Monica Long, President of Ripple, revealed that the RLUSD stablecoin is set to significantly broaden its reach on major exchanges. Currently available on a limited number of platforms, RLUSD aims to align its growth with Ripple’s expanding digital payment solutions.
What is the Current Situation of RLUSD?
RLUSD, a relatively new entrant in the stablecoin arena, operates on the XRP Ledger and Ethereum. With a market cap of around $53 million, it has seen a trading volume of $138.9 million in the past day, indicating a promising start.
Will XRP ETFs Become a Reality Soon?
Long believes that spot exchange-traded funds (ETFs) involving XRP are likely to emerge shortly. She indicated that it could be among the first to receive U.S. approval, alongside Bitcoin and Ethereum, especially with potential changes from the SEC that might fast-track the process.
Key Takeaways:
- RLUSD is making strides to increase its exchange listings.
- Ripple anticipates a doubling of its payment operations in 2024.
- Growing demand for stablecoins is expected as the crypto market flourishes.
- Potential XRP ETF approvals could enhance Ripple’s market position.
Ripple’s proactive approach to expanding RLUSD and the anticipated approval of XRP-linked ETFs could bolster its standing in the digital currency landscape. With leadership shifts at the SEC and rising interest in cryptocurrency ETFs, Ripple’s outlook appears increasingly optimistic.
