XRP Price Soars 7% As Brad Garlinghouse Says Ripple’s RLUSD Stablecoin Is Approved, While Traders Rush To This ICO Before It’s Too Late
The XRP price has jumped 6.8% in the last 24 hours to trade at $2.34 as 3:25 a.m. EST on a 13% pump in trading volume to $26 billion. This surge in the Ripple token’s price comes after Ripple CEO Brad Garlinghouse announced on Tuesday that the New York Department of Financial Services (NYDFS) approved the launch of its stablecoin, RLUSD. This just in…we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first. — Brad Garlinghouse (@bgarlinghouse) December 10, 2024 RLUSD is a stablecoin designed to maintain a 1:1 peg to the US Dollar. Like popular stablecoins such as USDT and USDC, Ripple asserts that RLUSD will be backed by actual US Dollar deposits, short-term government treasuries, and other cash equivalents. XRP Price Rebounds On A Double Bottom Pattern The XRP/USDT trading pair, in the 4-hour timeframe, presents an interesting setup with a c...