XRP Soars After Ripple's Stablecoin Gets Dubai's Nod!

XRP Price Jumps Following RLUSD Approval

Hold onto your hats, crypto fans! XRP is rocketing upwards after Ripple's stablecoin, RLUSD, got the green light from the Dubai Financial Services Authority. This approval has catapulted XRP right into the heart of Dubai's payment scene!

Right now, XRP is on fire! Since the announcement hit the news, XRP has been climbing, notching up a sweet 2.2% gain in just 24 hours, soaring from $2.14 to a thrilling peak of $2.22. Talk about a comeback from its week-long slump!

But hold up, it hasn't been all sunshine and rainbows. Over the last week, XRP dipped by 5.1%, and over two weeks, it took a nosedive of 6.6%. It's still hanging 35% below its all-time high, but don't count it out yet!

And guess what? The daily trading volume for Ripple isn't sitting still either. It's up by 11% to a whopping $1.87 billion. That's right, folks, XRP trading is heating up, and the market cap is holding strong at $129 billion!

This surge in both value and trading volume? All thanks to Ripple's big news about RLUSD getting the thumbs up from Dubai regulators.

Speaking of RLUSD, its trading volume exploded by 57.9% to $35 million right after the approval. That's some serious market love right there!

With this regulatory approval, Ripple's now ready to weave RLUSD into the DFSA-licensed payments platform. This isn't just any platform; it uses the XRP Ledger to connect a global payout network. RLUSD isn't just another coin; it's about cheaper payments, lightning-fast settlements, and crystal-clear regulations.

The Dubai International Financial Centre is home to nearly 7,000 firms, and they're all getting a taste of RLUSD through various licensed virtual asset services. That's a lot of potential users, folks!

And here's the kicker: RLUSD has joined the elite club of stablecoins that have gotten the nod from both the DFSA and the New York Department of Financial Services. It's a big deal!

Launched in December 2024, RLUSD isn't sticking to just one ecosystem. It's already making waves in both XRP and Ethereum, and there are big plans to dive into Cardano's ecosystem too.

Disclosure: Just a heads up, this article isn't your investment guide. It's all about keeping you in the know, purely for educational vibes!