Ripple's RLUSD Stablecoin Set for Launch, XRP Targets All-Time High

December 17, 2024 05:19 PM AEDT | By Team Kalkine Media

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Ripple's RLUSD Stablecoin Set for Launch, XRP Targets All-Time High — Image source: Shutterstock

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Highlights

Ripple's RLUSD stablecoin is set for its global launch on Tuesday.

XRP shows bullish momentum, testing key resistance levels.

RLUSD to be available on multiple exchanges, enhancing liquidity.

Ripple's (XRP) much-anticipated RLUSD stablecoin is officially set to launch globally on Tuesday. Following regulatory approval, the stablecoin aims to enhance liquidity, compliance, and trust within the crypto market. With bullish market sentiment, Ripple’s native asset XRP is showing upward momentum as it tests significant resistance levels.

Ripple confirmed the RLUSD rollout across major exchanges, including MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEx. Over the next few weeks, the company also plans to expand its stablecoin to platforms such as Bullish, Bitstamp, and Mercado Bitcoin. This launch marks a pivotal moment for Ripple as it enters the stablecoin market, addressing increased demand for digital assets backed by trusted reserves.

The RLUSD stablecoin, backed 1:1 with the US dollar, will maintain reserves comprising US dollar deposits, short-term Treasury bonds, and other liquid assets. Ripple assured that independent monthly attestations will verify these reserves, ensuring transparency and trust among its global users. Initially, RLUSD will operate on the XRP Ledger and Ethereum Mainnet, offering access to decentralized finance (DeFi) protocols for seamless transactions.

Ripple’s (XRP) bullish outlook coincides with the launch. The asset recently rallied above key resistance levels, validating a bullish flag pattern. XRP bounced off the 23.6% Fibonacci Retracement level and tested the resistance mark at $2.58, indicating potential for further upward movement. The maximum target, based on the pole length of the flag, suggests XRP could reach $4.75 if momentum accelerates beyond resistance levels at $2.58 and $2.92.

Technical indicators reflect continued bullish momentum. Both the Relative Strength Index (RSI) and the Stochastic Oscillator remain above neutral levels, signaling increasing buying strength. Ripple plans to leverage RLUSD for cross-border payments starting early next year, further boosting its ecosystem and utility.

The launch of RLUSD also highlights Ripple's strategic compliance efforts, as the stablecoin received regulatory approval from the New York Department of Financial Services (NYDFS). Ripple emphasized that RLUSD will enable reliable payment flows exceeding billions globally, reinforcing the company's commitment to enterprise-grade digital finance.

Ripple (XRP) appears well-positioned as it continues to gain attention, driven by the RLUSD launch and its broader applications across DeFi protocols and cross-border payments. This pivotal development underscores Ripple’s role in driving innovation and growth within the digital asset sector.

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