Ripple has started minting Ripple USD (RLUSD) on-chain, with a high number of stablecoins minted in the last 24 hours as the price of XRP fell. RLUSD is a stablecoin created by Ripple for institutional use. Despite the recent price drop, the Bull Bear Power indicator suggests that buyers are still active in the market. There is also the formation of an inverse head-and-shoulder pattern, indicating a potential bullish reversal. If XRP can break above $0.60, it could see further price increases, but failure to do so may result in the token's value sinking to $0.52.



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