RLUSD, the stablecoin floated by American blockchain payments firm Ripple Labs is growing at a fast pace, currently flipping its core rivals in 24 hour trading volume. Despite the stablecoin’s young age, it has printed a sustained growth track to beat Paypal’s PYUSD and Circle’s EURC tokens. This milestone comes despite Ripple USD showcasing a much smaller market capitalization than the duo.
RLUSD Stablecoin and the Performance Metrics
Per data from CoinMarketCap, the Ripple stablecoin boasts a self-reported market cap of $53.1 million. Atop this, the stablecoin saw its trading volume jump by 1,566% in 24 hours to $607.58 million.
This unexpected boost contrasts sharply with Paypal’s PYUSD with a $491.72 million capitalization and a 24 hour volume of $19.74 million. Also, Circle’s EURC, a MiCA-compliant token with market cap of $82.38 million and $10.55 million volume.
While it remains unclear the reasons for the RLUSD stablecoin growth, uptickthe current outlook positions it as the 3rd most traded token after Tether (USDT) and Circle’s USDC.
A related growth is seen across the board for Ripple coin per data insights from XPMarkets. At the moment, the token has a total user of 7,600, up from the 1000 it recorded 24 hours after Ripple launched the stablecoin in December, 2024.
With the RLUSD stablecoin’s growth trend, it is now the 13th largest asset on the XRP Ledger by market capitalization.
The token’s growth also hinges on its expansion on top trading platforms globally. As reported earlier by Coingape, it launched on Bullish on Christmas Eve after it made its global debut on Uphold and Bitso. These listings helped boost its liquidity and accessibility by users.
Ripple, XRP Ledger and RWA Agenda
Beyond its direct role in facilitating payments, Ripple Labs has a bigger plan for the RLUSD stablecoin. The firm is making ambitious move in the Real World Tokenization (RWA) world through its partnership with Archax.
Ultimately, the firm hopes to integrate the stablecoin as a primary liquidity layer in driving this use case. The firm recently launched its first tokenized money market fund on XRP Ledger lately, establishing its foothold in this industry.
Ripple executives have reiterated how the stablecoin, XRP Ledger and XRP will form a complementary bond across its product suite. The liquidity boost of the stablecoin might account for the latest rally in the price of XRP as reported earlier by Coingape.
As of writing, the coin was changing hands for $2.432, up by 2.6% in the past 24 hours. In an earlier XRP price analysis, the coin is projected to hit Should the broad Ripple plans work out, analysts are projecting a potential push to $3.5.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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