Prominent crypto lawyer Bill Morgan has addressed recent concerns surrounding Ripple’s stablecoin, RULSD, highlighting its remarkable stability despite market uncertainties. Morgan took to social media this morning to share his observations about the stablecoin’s performance.
“Which stablecoin has been more stable over the last week? Stunningly, it has been RULSD over the last few days with less liquidity but as its daily volume increases. That increasingly flat line is a thing of beauty,” Morgan noted.
His comments come in response to circulating accusations on Twitter suggesting that RULSD had lost its dollar peg. However, Morgan’s analysis indicates quite the opposite, pointing to the stablecoin’s steady performance despite having lower liquidity compared to its competitors.
Morgan specifically questioned the relevance of what he referred to as “RULSD FUD” (Fear, Uncertainty, and Doubt), suggesting that actual market data contradicts these negative claims. The stablecoin’s trading activity shows increasing daily volumes while maintaining price stability.
Current Market Performance
Recent market data supports Morgan’s observations. RULSD maintains its dollar peg at $1.00, with a current market capitalization of $53.1 million. The stablecoin has demonstrated healthy trading activity, recording a 24-hour volume of approximately $39.97 million against a total supply of 53.1 million tokens.
What sets RULSD apart is its dual-blockchain presence, operating on both the XRP Ledger and Ethereum networks. This cross-chain functionality enables real-time transactions while maintaining compliance standards. The stablecoin’s architecture specifically targets the cross-border payments sector, combining USD stability with the efficiency advantages of blockchain technology.
This latest development comes as part of Ripple’s broader strategy in the digital assets space, where the company continues to leverage its experience in blockchain solutions to enhance institutional adoption of digital payment systems.
Read also: Expert Charts XRP’s Price Path to $8.67 – Here’s the Outlook
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