Ripple’s RLUSD Continues to Gain Popularity: New Minting and Growth on the Horizon!

At CryptoBenelux, we always keep a close eye on the market, and there’s some news to report about Ripple Labs. After a 17-day pause, RLUSD, Ripple’s stablecoin, is back in action. With a fresh minting of 3.1 million tokens, the total circulating supply has now risen to about 56 million. This is on top of the 625,000 RLUSD issued on February 10. This is no small matter – it marks a serious step in Ripple’s strategy to firmly establish RLUSD in the market. But what does this really mean for XRP and the crypto world? Let’s dive in!

RLUSD Shines on the Market

Just some figures to start with: RLUSD shows that it’s not just any stablecoin. In the last 24 hours, the trading volume increased by over 11%, accounting for a total of $157.39 million. That’s impressive, especially when compared to competitors such as Ethena USDe ($118 million) and Circle’s EURC ($24.4 million). RLUSD thus demonstrates that it’s not only popular, but can also become a serious contender in the stablecoin race. The growing volumes underline that RLUSD is gaining traction – a sign that it could challenge established names like USDT and USDC.

But let’s be honest: volume alone doesn’t tell the whole story. It’s about what Ripple does with RLUSD. And the company seems to be steering a smart course.

Ripple Focuses on Utility and Partnerships

Ripple Labs is not standing still. RLUSD is playing an increasingly important role through smart collaborations with platforms such as Revolut and Zero Hash. These listings expand the reach and make RLUSD more accessible to users worldwide. That’s a big step for a stablecoin that’s just getting up to speed. And we haven’t even talked about the XRP Ledger (XRPL), where RLUSD has its home base. The recent introduction of Automated Market Maker (AMM) liquidity pools on the mainnet gives RLUSD an extra boost. Thanks to these upgrades, it can contribute more efficiently to liquidity within the ecosystem – something that both traders and institutions appreciate.

Cardano in Sight?

And now for the real speculative fireworks: rumors are circulating about a possible implementation of RLUSD on the Cardano network. Yes, you read that right – Ripple and Cardano could potentially collaborate. Talks are underway, and if this goes through, it could be a game-changer. Cardano’s robust blockchain, combined with RLUSD’s stability, could significantly boost demand for both tokens. It’s not a done deal yet, but the mere thought is making the market sit up and take notice. This kind of cross-chain moves could give RLUSD a head start in the stablecoin war. We’ll of course keep you updated!