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**Ripples RLUSD Stablecoin Soars: An In-Depth Examination of the 319% Increase**
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Ripple’s RLUSD stablecoin has seen a huge increase in trading volume, rising 319% to $39.9 million in the past day, according to CoinMarketCap. This increase shows increasing market interest in Ripple’s stablecoin offering.
Launched in December 2024, Ripple’s RLUSD stablecoin has gradually gained momentum. With a circulating supply surpassing $176 million and an increasing number of Ethereum mainnet addresses holding it, RLUSD is set to become a key participant in the stablecoin space.
In approximately three months since its launch, RLUSD has obtained notable exchange listings. Initially listed on platforms like Uphold, MoonPay, Archax, and CoinMENA, it has since grown to Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash.
Recently, LMAX Digital became the newest major digital currency trading platform to list Ripple USD (RLUSD).
Despite the recent increase in trading volume, the creation of Ripple’s stablecoin has slowed, with the last creation event occurring on March 21, when 7 million RLUSD tokens were created. This implies a steady supply despite increased trading activity.
**The stablecoin market is experiencing a substantial change.**
The total valuation of stablecoins has increased, exceeding $234 billion recently. Although these digital assets are broadly employed to dodge market instability, experts propose that this monetary resource could spark the subsequent market surge if market opinion becomes hopeful.
As formerly stated, Ripple’s Chief Executive Officer, Brad Garlinghouse, lately delivered a daring forecast concerning Ripple’s stablecoin, RLUSD. In a discussion with Bloomberg TV last Wednesday, Garlinghouse predicted that RLUSD would evolve into one of the leading five stablecoins by the close of the year, foreseeing considerable growth in the stablecoin domain, soon after the SEC declared it would abandon its appeal in the legal action against Ripple.
