Ripple's RLUSD Stablecoin Sees $55.9 Million Burn Amid Slow Activity

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

W+2.152%

XRP+2.686%

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Significant Burn Activity: Ripple's RLUSD stablecoin recorded $55.9 million in burn activity over the past week, while only $8.8 million was minted, indicating a net reduction in circulating supply and suggesting a potential cooling in market demand.
Expansion of Payment Networks: The integration with Wormhole enables RLUSD to move natively across multiple blockchain ecosystems, supporting cross-border payments and institutional on-ramps, thereby enhancing its utility in the digital payments sector.
Partnership with Mastercard: Ripple secured support from Mastercard for RLUSD settlements, reflecting increasing demand for blockchain infrastructure and broadening the stablecoin's potential applications among institutional participants.
Support for Academic Research: Ripple partnered with Istanbul Technical University to fund blockchain research and graduate fellowships using RLUSD, showcasing its strategic focus on educational and research initiatives within the XRP Ledger ecosystem.

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Technical Analysis for W

Technical Sentiment Analysis for Wormhole (W). As of , Wormhole (W) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 1 indicators are flashing buy, while 2 are indicating sell.

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

Wormhole (W) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00648	0.00748	0.00848	0.00948	0.0105	0.0115	0.0125
Fibonacci	0.00748	0.00825	0.00872	0.00948	0.0102	0.0107	0.0115

About W

Wormhole is the leading interoperability platform that powers multichain applications and bridges at scale. Wormhole provides developers access to liquidity and users on over 30 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more.The wider Wormhole network is trusted and used by teams like Circle and Uniswap, and to date, the platform has facilitated the transfer of over 40 billion dollars through over 1 billion cross-chain messages.

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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