XRP has seen a 20% spike in value following Ripple's announcement that its RLUSD stablecoin has been approved by the New York Department of Financial Services (NYDFS). The approval comes after months of effort from Ripple to secure the regulator's greenlight. Ripple plans to announce the exchange and partner listings for RLUSD soon, with initial listings on platforms including Uphold, Bitstamp, and MoonPay. The approval news has positively impacted XRP's value, which initially fell below $2 but rebounded to a high of $2.41 after the announcement. XRP's daily volume has also increased, and it is close to surpassing USDT's market cap. The mainnet launch date for RLUSD is still uncertain, but it is currently in beta testing. RLUSD will be pegged at a 1:1 ratio with the US dollar and backed by financial instruments. Once launched, RLUSD will work alongside XRP in Ripple's payment solution.



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