Ripple Mints $39.4 Million RLUSD in 24 Hours

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

RLUSD+0.02%

X-0.15%

XRP-0.974%

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Stablecoin Supply Surge: Ripple minted $39.4 million RLUSD in the past 24 hours, indicating a rapid increase in liquidity demand within its payment infrastructure, further enhancing activity across the XRP Ledger ecosystem.
Upgrade Pressure Intensifies: As the activation of XRPL version 3.1.3 approaches, Ripple's Head of Engineering warned that only 44% of validators have completed the necessary software upgrade, increasing the risk of communication issues for unupgraded nodes post-activation.
Rising Liquidity Demand: The circulating supply of RLUSD has surpassed $1.61 billion, indicating that Ripple is expanding stablecoin usage within payment settlement systems, particularly in institutional payment operations.
Minting vs. Burning Contrast: Compared to earlier this month when over $32 million RLUSD was burned, Ripple's recent minting activity suggests a strategic shift towards supply expansion to meet the growing market demand.

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Technical Analysis for RLUSD

Technical Sentiment Analysis for Ripple USD (RLUSD). As of , Ripple USD (RLUSD) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RLUSD stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, RLUSD is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Ripple USD (RLUSD) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.999	0.999	1	1	1.001	1.002	1.002
Fibonacci	0.999	1	1	1	1.001	1.001	1.002

About RLUSD

Ripple USD (“RLUSD”), issued by Standard Custody & Trust Company, LLC, a wholly owned subsidiary of Ripple Labs, is a USD denominated stablecoin created with trust, liquidity, and compliance at its core. Each RLUSD is backed by at least an equivalent amount of U.S. dollars and other cash equivalents. RLUSD is purpose-built for cross-border payments and delivers reliable access to digital dollars.As an industry leader for over a decade, Ripple has a proven track record of delivering breakthrough blockchain solutions at scale. Strong ecosystem relationships built over a decade facilitates RLUSD’s broad accessibility for use by financial institutions, enterprises and developers. Ripple’s commitment to regulatory compliance, combined with its global license portfolio, enables RLUSD users to transact with confidence.RLUSD delivers the reliability of USD combined with the efficiencies of blockchain technology in a trusted, liquid, and compliant manner.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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