RLUSD Records Rare Zero Burn Event as XRP Ledger Strengthens Position
- Zero Burn Phenomenon: On June 29, RLUSD recorded a rare zero burn event during the first hours of trading while nearly $959,000 worth of new tokens were minted, attracting market attention as RLUSD typically registers burns even during limited minting periods.
- Supply Management Dynamics: RLUSD's circulating supply currently stands at approximately $1.56 billion, down from a peak of roughly $1.7 billion earlier this year, reflecting Ripple's ongoing supply management efforts to adapt to market demand changes while expanding stablecoin adoption.
- XRP Ledger Advantage: The XRP Ledger has overtaken Ethereum as the largest network hosting RLUSD, with approximately $810 million in RLUSD compared to Ethereum's $759 million, indicating that stablecoin demand on XRP Ledger remains stable despite increased customer redemptions on Ethereum, further solidifying its position in the digital asset ecosystem.
- Japan Regulatory Approval: Japan's approval of RLUSD under the Payment Services Act classifies it as an electronic payment instrument meeting regulatory standards, which not only boosts Ripple's stablecoin adoption in Asia but also opens up greater market opportunities for future financial products.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for RLUSD
Technical Sentiment Analysis for Ripple USD (RLUSD). As of , Ripple USD (RLUSD) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 5 indicators are flashing buy, while 1 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 | 1 | 1.001 | 1.001 | 1.002 | 1.002 | 1.003 |
| Fibonacci | 1 | 1 | 1.001 | 1.001 | 1.002 | 1.002 | 1.002 |
About RLUSD
About the author
