Ripple's RLUSD Mint Breaks Record, Accelerating Stablecoin Expansion

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 6 days ago

XRP-1.771%

MMT-3.068%

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Minting Record: Ripple's RLUSD minted 200 million RLUSD in a single transaction, setting a record for the XRP Ledger and indicating that Ripple is accelerating its institutional liquidity strategy, potentially preparing for larger enterprise activities.
Market Capitalization Surge: RLUSD's market cap reached $1.881 billion yesterday, showcasing significant market traction in less than two years, reflecting rising institutional demand for efficient cross-border liquidity solutions.
Deepening Institutional Partnerships: Ripple Prime's collaboration with EDX Markets is expected to enhance institutional access to digital asset liquidity, with RLUSD emerging as a potential settlement and collateral asset within the platform, signaling Ripple's focus on institutional finance.
Expansion into Emerging Sectors: RLUSD's adoption is extending into new sectors, as evidenced by an AI-driven healthcare platform integrating XRP and RLUSD swap functionality, demonstrating the stablecoin's utility beyond traditional payment applications.

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Technical Analysis for XRP

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

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP 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, XRP 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 $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.146	1.207	1.276	1.337	1.406	1.467	1.536
Fibonacci	1.207	1.256	1.287	1.337	1.386	1.417	1.467

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

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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