XRP Ledger Stablecoin Volume Soars as RLUSD Dominates Market
- Surge in Stablecoin Volume: The XRP Ledger recorded $1.77 billion in stablecoin transfer volume over the past 30 days, marking a remarkable 91.90% increase from the previous month, indicating strong user demand and trust in the network, which solidifies its position in the digital asset space.
- Market Dominance: RLUSD stablecoin holds approximately 84% to 85% of the market share on XRPL, with a value of $336.8 million, establishing itself as the default choice for users transferring value, showcasing its significant influence in the stablecoin market.
- Increase in Holder Count: The number of stablecoin holders on XRPL rose by 8% in a month to 56,830 addresses, reflecting a continuous influx of new users and capital, which further boosts the network's activity and usage rates.
- Growth in Real World Asset Value: The XRP Ledger now holds $1.53 billion in represented real world asset value, up 2.23% over the past month, indicating growing interest from institutional investors in these assets, suggesting the network is becoming a settlement layer for real value.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE). As of , (STABLE) 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 STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0174 | 0.0211 | 0.0236 | 0.0273 | 0.0298 | 0.0336 | 0.036 |
| Fibonacci | 0.0211 | 0.0235 | 0.025 | 0.0273 | 0.0297 | 0.0312 | 0.0336 |
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