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Ripple 
$2 Labs has restarted the production of its dollar-pegged stablecoin, RLUSD, following a 7-day pause on the XRP Ledger and Ethereum 
$1,919. According to Ripple Stablecoin Tracker data, the company has introduced 6,500,000 RLUSD into circulation. This move is considered a response to increasing market demand and part of strategic issuance plans.
RLUSD and Ripple
The new issuance, conducted via the Ethereum blockchain, indicates Ripple’s active use of two different networks in its issuance process. The previous issuance occurred on March 7, releasing 2,300,000 RLUSD. There has been no formal announcement regarding the suspension and resumption of token issuance.
Ripple’s Chief Technology Officer, David Schwartz, noted that future production could be halted or reversed.
David Schwartz: RLUSD production may be canceled or reverted in the future.
This statement follows expectations surrounding regulatory developments under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to require token issuers to use technology that freezes or seizes funds for legal reasons.
Market Situation and XRP Effects
Amid widespread use of stablecoins in the crypto market, the issuance of RLUSD could enhance market liquidity. This development may increase token trading volumes, helping Ripple to stay ahead of some competitors. Ripple has successfully raised RLUSD’s total circulating supply to approximately 141.49 million.
Additionally, the listing of RLUSD on various platforms like Revolut and Zero Hash facilitates greater accessibility for the token.
On the other hand, while indirect effects on XRP’s price movements are anticipated, market volatility and regulatory developments remain uncertain. Long-term growth in RLUSD’s market share could support both the expansion of XRPL and demand for XRP Coin.
Ripple Labs’ recent actions are viewed as a strategic maneuver within the competitive landscape of the stablecoin market. The increase in production provides valuable insights into responding to market demand and regulatory compliance.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
