Ripple Prepares to Unveil RLUSD Stablecoin

Ripple is gearing up to make a significant move with its RLUSD stablecoin as it continues expanding its supply and working through regulatory approvals. The company recently minted an additional 1.35 million RLUSD on the XRP Ledger, bringing the stablecoin closer to its full launch. This marks the largest RLUSD issuance to date, as Ripple positions itself for major developments post-SEC case.

RLUSD Supply Increases

Ripple's RLUSD supply has grown steadily, with 2.45 million tokens minted in October across four stages. The latest issuance is aimed at increasing liquidity and stress-testing the stablecoin under various conditions. Ripple is waiting for full regulatory approval, which it views as critical to ensure compliance with U.S. laws and avoid legal issues similar to those faced by other stablecoin issuers.

ETF Developments and Market Speculations

In parallel with RLUSD’s expansion, excitement is building over Bitwise’s application for a Spot XRP ETF. If approved, the XRP ETF could drive strong inflows, pushing the price of XRP upward. Market analysts have noted increased whale activity, suggesting that investors are positioning for significant developments in Ripple’s ecosystem.

With RLUSD nearing full launch and ETF prospects on the horizon, Ripple's future looks promising, potentially leading to significant growth within the XRP Ledger and broader crypto market.

XRP Coin ETF Application: What It Means for Investors in October

XRP Coin ETF Application

Bitwise has applied for an ETF for XRP Coin, which can be verified on the Delaware website. Currently, XRP is trading above $0.61. On October 7, the SEC filed a complaint against Ripple, with XRP priced at $0.62915. With the appeal period concluded, the potential for further SEC action remains unclear.

The price of XRP dipped below $0.61 following the ETF announcement. Although Bitwise's application appears valid, past claims about BlackRock's application were dismissed as false. If Bitwise's ETF application proceeds without further issues, it could lead to increased volatility in XRP's price.

Despite the positive potential of the ETF application, the SEC is unlikely to approve it in the near future, especially under Chair Gary Gensler, who is expected to remain until at least March 2025. Investors should monitor XRP's performance and regulatory developments closely in the coming weeks, as an approved ETF could significantly impact its market value.

Ripple Unlocks 1 Billion XRP: Price Drops 5 Percent!

Ripple, one of the leading blockchain payments companies, recently made headlines by unlocking and releasing 1 billion XRP from its escrow wallet. While this massive release has raised concerns among investors, analysts are cautiously optimistic about the long-term potential of XRP. In this blog post, we’ll dive into the details of the release, its impact on XRP’s price, and expert predictions for the future.

Release of 1 Billion XRP

On October 1, Ripple released 1 billion XRP in three separate transactions—500 million, 400 million, and 100 million XRP, respectively—bringing the total value of the unlocked assets to a staggering $621.76 million. The data, reported by blockchain tracker Whale Alert, highlights the significant increase in circulating supply, sparking apprehension among investors due to the law of supply and demand.

XRP Price Performance: Immediate Impact

Following the release of the 1 billion XRP, the price of Ripple’s native token experienced a sharp decline. In the last 24 hours, XRP dropped by 5 percent, falling to $0.6214. The lowest point recorded was $0.611, while the highest reached $0.6524. This sudden dip in value reflects the market’s reaction to the increased supply, which often puts downward pressure on prices.

Short-Term vs. Long-Term: A Positive Outlook?

Despite the short-term drop, XRP’s price performance over the past week and month remains positive. On a weekly chart, XRP has seen a 6 percent increase, and on a monthly chart, an impressive 11 percent rise. Analysts believe that these upward trends indicate strong long-term potential for the cryptocurrency, driven by whale accumulations and Ripple’s ongoing developments in the stablecoin market.

Ripple recently minted 80,000 RLUSD, further fueling market optimism. This, combined with a general rally in the cryptocurrency market, offers hope that XRP may continue its upward trajectory in the coming months.

Futures Market and Analyst Predictions

However, the futures market shows mixed signals. According to Coinglass data, open interest (OI) in XRP futures decreased by 7 percent to $956 million, while derivatives volume dropped by 50 percent to $2.21 billion. This uncertainty reflects the cautious stance investors are taking as they await further market developments.

Looking ahead, some analysts predict that XRP could approach the $3 target by Christmas, assuming market conditions remain favorable. The price fluctuation observed with the recent coin unlocking highlights the delicate balance between supply and demand, but the overall upward trend offers a glimmer of hope for investors.

Ripple’s release of 1 billion XRP has had a significant short-term impact on the cryptocurrency’s price, with a 5 percent drop in the past 24 hours. However, the long-term outlook remains positive, as weekly and monthly price charts suggest a strong potential for growth. Analysts believe that XRP could see significant gains in the coming months, making it a cryptocurrency to watch closely.

As always, investors should stay informed and monitor market conditions to make well-informed decisions.