XRP Faces Pressure Despite Ripple’s Massive RLUSD Growth
Despite the remarkable growth of Ripple’s ecosystem, XRP’s price decline has put it at the center of market discussion once more. The currency has matched the recent volatility observed among other cryptocurrencies like Bitcoin and Solana, with a current price of about $2.27. One indicator, though, is particularly noteworthy. The adjusted volume of Ripple’s stablecoin, RLUSD, has increased by more than 210% over the past 30 days, surpassing $4 billion in total transaction volume.
RLUSD Adoption Soars as Ripple Expands Institutional Partnerships
Investors are paying attention to RLUSD‘s explosive growth. Growing adoption is indicated by recent data from Artemis, which indicates a rapid increase in both transaction count and total volume. RLUSD may be more integrated into institutional payment flows as a result of Ripple’s acquisition spree, which includes GTreasury and Hidden Road (now Ripple Prime). Ripple’s push toward mainstream financial use cases is strengthened by partnerships with Gemini, Mastercard, and WebBank to test RLUSD in card settlements.
XRP’s Chart Sends Confusing Signals: Breakdown or Breakout Ahead?
XRP‘s chart presents a more nuanced picture than the bullish picture painted by on-chain growth. More downward pressure is usually indicated by a death cross formation between the 50-day and 200-day moving averages. However, bullish signs like RSI divergence and a double-bottom pattern at the $2.18 point point to a possible rebound toward the $3 barrier. According to analysts, XRP may be about to enter the second wave of an Elliott pattern, which suggests further gains. But this bullish setup would probably be invalidated if it broke below $2.18.
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