XRP surges 13% ahead of Ripple Stablecoin launch

XRP has gained 21% in the past seven days and 13% in the past 24 hours, trading at $2.69 at press time – as the Ripple USD (RLUSD) stablecoin launched on the network.

XRP was launched in 2012 by the founders of Ripple Labs, but the company has gone to great lengths to emphasize that it is not the issuer of the token. Still, crypto traders will be aware of the link and consider it good news for Ripple Labs. a new stablecoin New York regulatory approval, XRP price rises.

This was announced by the founder of Obchakevich, Alex Obchakevich Deciphering that “XRP has the biggest increase among the top 10 cryptos in the last week” and its growth significantly outpaced Bitcoin’s 10% increase over the same time period.

“XRP has been consolidating in this bull flag for a while now, but once it clears the $2.60 resistance, I think it will race to $4,” he added.

Jake Ostrovskis, director of the OTC trading desk at Wintermute, said. Deciphering “XRP has benefited from being ‘known’ in retail circles, while growth around the new US administration is leading traders to consider potential ETF (exchange-traded fund) launches.”

Comments are as follows application at the end of November New York-based asset manager WisdomTree has become the latest firm to register interest in launching the XRP Spot ETF product.

Bitrue Chief Marketing Officer Adam O’Neill said Deciphering “With XRP ETFs likely to be another event in 2025, we expect a peak for this coin by the end of the latest quarter.”

He also added that the platform “expects demand for XRP to increase until 2025 as many pieces fall into place.” He emphasized how the firm is fight against regulators “Now seems to be a thing of the past” and XRP “became a major beneficiary of Trump’s pro-crypto administration”.

O’Neill also noted that XRP “is receiving widespread attention from crypto-centric as well as traditional media for its 400% price increase over the past ~6 weeks.”

Meanwhile, Ripple is today launched its RLUSD stablecoinSome analysts believe that this is playing a role in driving market demand for XRP.

“The launch of RLUSD will also play an important role, allowing Ripple to strengthen its position in the market and continue its growth,” said Obchakiewicz.

“My predictions are that RLUSD will be among the top 100 cryptos with a market cap of over $1 billion in the first days,” he added.

O’Neill also noted that Ripple USD transactions “burn a small amount of XRP as a gas payment, which increases the scarcity of XRP over time and causes the coin to appreciate.” He believes that “the success of these two assets is inextricably linked, and investors have picked up on that connection.”

Edited by Stacey Elliott.