Ripple (XRP) has remained strong, reflecting solid demand and continued investor interest despite profit-taking by some holders. The cryptocurrency’s recent price surge, driven by the announcement of its stablecoin RLUSD, has bolstered market confidence and fueled optimism for further gains.
Ripple confirmed the launch of RLUSD, a stablecoin set to operate on the XRP Ledger, sparking a significant rally. Following the news, XRP’s price climbed from $2.36 to $2.56, an 8.47% increase, and continued upward to $2.69, reflecting a 13.17% daily gain and a 26.31% weekly rise. As of press time, XRP’s market capitalization stands at $153.75 billion, with a circulating supply of 57 billion tokens. Trading volume has surged, exceeding $20 billion in the past 24 hours.
Market analysts highlight $2.60 as a critical resistance level. A breakout above this threshold could confirm XRP’s bullish momentum, with many predicting a climb toward $4. Technical patterns, including a recent breakout from a falling wedge, suggest a trend reversal to the upside. “$XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races,” noted one analyst.
The official launch of RLUSD on December 17 is expected to further strengthen XRP’s position. Ripple Treasury recently minted 13 million RLUSD coins to ensure a smooth rollout, and the stablecoin has received regulatory approval from the New York State Department of Financial Services (NYDFS). According to Ripple CEO Brad Garlinghouse, this approval underscores the stablecoin’s readiness for mainstream adoption. David Schwartz, Ripple’s Chief Legal Officer, emphasized that RLUSD’s launch would create new opportunities for developers and users, enhancing the ecosystem by integrating the benefits of RLUSD, XRP, and the XRP Ledger.
Whale activity has also surged during this rally, with significant transfers tracked by blockchain analytics. Whale Alert reported a transfer of 69.3 million XRP, worth $175.87 million, to Binance, alongside earlier movements totaling over $2.2 billion. While some of these transactions are linked to Binance’s internal reshuffling, the increased activity reflects heightened interest and positioning by large investors ahead of RLUSD’s debut. This combination of whale interest, technical patterns, and a stablecoin launch has strengthened market sentiment around Ripple and XRP.