CandleFocus Ripple Minted 13 Million RLUSD Stablecoin Across XRP, ETH Network
2024-12-13
Author: Content Editor
Ripple has minted over 13 million RLUSD stablecoins on both the XRP Ledger and Ethereum Network, marking a significant step forward for its stablecoin project. The minting costs on the XRP Ledger were incredibly low, totaling just 0.00048 XRP, demonstrating the scalability and cost-effectiveness of the network. Ripple's approval from the New York Department of Financial Services (NYDFS) for RLUSD stablecoin testing has also triggered bullish momentum for XRP, pushing its price closer to the $2.50 resistance level. The launch of RLUSD will allow Ripple to compete with other stablecoins like Tether's USDT and Circle's USDC, with the advantage of regulatory compliance. The next 48 hours will be important for XRP's market movements as it approaches the key resistance level.
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