XRP price rallies after getting Dubai approval for RLUSD stablecoin

$XRP price has been rallying in the aftermath of Ripple’s stablecoin approval from Dubai Financial Services Authority, integrating it into the region’s payment platform.

At press time, $XRP ($XRP) price has been on the rise since the announcement first aired. In the past 24 hours, $XRP has been seeing modest gains, climbing up by 2.2% to $2.20. It shot up from its lowest point at $2.14 to a peak of $2.22 in the span of only a few hours. The $XRP price managed to break through its week-long decline.

In the past week, the $XRP price has been down 5.1%. Even more so in the past two weeks, as its value plummeted by 6.6%. It stands 35% below its previous all-time high.

Not only that, the daily trading volume for Ripple has also seen a modest boost in its numbers, rising 11% to $1.87 billion. This indicates that the market has seen a recent rise in $XRP trading activity. At the moment, $XRP’s market cap stands at $129 billion.

This boost in value and trading volume comes after Ripple announced that its stablecoin $RLUSD ($RLUSD) has gained approval from the Dubai Financial Services Authority.

After gaining approval from Dubai regulators, the daily trading volume for $RLUSD shot up by 57.9% to $35 million.

$XRP price chart in the past few hours after its DFSA approval, June 3, 2025 | Source: crypto.news">

$XRP price chart in the past few hours after its DFSA approval, June 3, 2025 | Source: crypto.news

Now that Ripple has obtained regulatory approval for its stablecoin, it is able to integrate $RLUSD into the DFSA-licensed payments platform, which uses the $XRP Ledger to connect a global payout network. $RLUSD provides key benefits like cheaper payment costs, faster settlement times, and regulatory clarity.

Dubai International Financial Centre hosts nearly 7,000 firms, providing access to $RLUSD across various licensed virtual asset services.

With the recent approval, $RLUSD has become one of only a handful of stablecoins which have received the regulatory green light from both the DFSA and the New York Department of Financial Services.

Launched in December 2024, $RLUSD is available in both the $XRP and Ethereum (ETH) ecosystem. There are also plans to integrate the stablecoin into Cardano’s (ADA) ecosystem.