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Ripple Labs has minted 1,79 million RLUSD tokens at its Treasury, marking a notable event in the stablecoin’s activity. Following this, the same amount was transferred internally between Treasury accounts. Whilst, the XRP price rallied amid the bullish sentiment in the crypto market.
Close Look At Ripple’s RLUSD
According to on-chain data, subsequent transactions shuffling 500,000 RLUSD through varied routes were also recorded today. The minting of additional RLUSD tokens highlights the growing importance of liquidity within the stablecoin ecosystem. By securing multiple listings, Ripple aims to increase RLUSD’s availability and usability in global markets.
For further context, the RLUSD stablecoin recently gained traction after its listing on Bullish, a centralized crypto exchange (CEX). Despite its global reach, Bullish clarified that trading of RLUSD is restricted to users in supported regions. For instance, UK-based investors must meet specific eligibility criteria to access the token. RLUSD stands out as the fourth asset added to Bullish last month, joining MOCA, Ethereum Classic (ETC), and EDU.
💵💵💵💵💵💵 1,790,000 #RLUSD minted at RLUSD Treasury.https://t.co/246d6Fh271
— Ripple Stablecoin Tracker (@RL_Tracker) January 6, 2025
This stablecoin, issued as an ERC-20 token, is available across seven trading pairs, making it the most paired asset listed on Bullish in recent months. The pairs include RLUSD/USDC, BTC/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, SOL/RLUSD, and XRP/RLUSD.
Ripple launched RLUSD in December 2024, with initial listings on prominent platforms like Bitso and Uphold. Singapore’s Independent Reserve also embraced RLUSD during its first entry into the country’s market. As a stablecoin regulated by the New York Department of Financial Services (NYDFS), RLUSD is among the industry’s most tightly monitored tokens.
XRP Price Today
Amidst the continued minting of Ripple’s RLUSD, the ecosystem’s star token, XRP, witnessed a significant rise in its price. As of writing, the XRP price gained 1.28% to $2.42 on Monday, January 6, 2025.
The token price ranged between $2.38 and $2.45 today. This indicates lower volatility for Ripple’s native crypto. Meanwhile, analysts remain bullish on the crypto’s future price trajectory with predictions of attaining the iconic $3 mark soon.