Ripple has announced the official launch of its RLUSD stablecoin, scheduled for Tuesday, December 17. This move marks a significant step for the blockchain company as it continues to expand its offerings in the digital asset space.

XRP has jumped nearly 8% in the past hour following this announcement. 

Ripple’s RLUSD Stablecoin Influences a Bullish Trigger for XRP

According to Ripple, an independent auditing firm will oversee the monthly attestations of RLUSD’s reserve assets to maintain transparency. 

Initially, the RLUSD stablecoin will be available on platforms such as Uphold, MoonPay, Archax, and CoinMENA. Additional exchanges, including Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash, are expected to list RLUSD soon.

“As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry,” said Brad Garlinghouse, Ripple’s CEO.

Meanwhile, the announcement has sparked a surge in XRP’s price, which jumped nearly 7% in the hour following the news. Daily trading volume for XRP rose nearly 72%, contributing to a 130% price increase over the past month.

Last week, the stablecoin received approval from the New York Department of Financial Services (NYDFS), clearing the way for its launch.

Ripple plans to integrate RLUSD into its payment solutions early next year, allowing

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Author: Mohammad Shahid