The total Stablecoin supplies from Ripple, Ripple USD (RLUSD), $ 120 million. Community analyst Marton of Cryptoquant revealed the numbers in a new analysis, describing it as a “huge milestone”.
RLUSD is acquired from Ripple traction on Professor XRP book
The total RLUSD total offer was $ 120 million. RLUSD, Stablecoin organized in Ripple, continues, and now continues a total of $ 120 million. XRPL owns about 37.4 million RLUSD, exceeded ETHEREUM, where growth slows, while maintaining the offer less than 83.3 million RLUSD. to update.
An analyst attributes the last RLUSD momentum on Professor XRP (XRPL) to a much lower treatment fee compared to Ethereum. In the first weeks of its launch, RLUSD’s expansion was more clear on Ethereum, but it seems that this initial explosion has been cooled, allowing the XRP note to get the ground.
“In the first weeks, RLUSD rapidly grew on Ethereum. However, more traction on XRPL has gained, most likely due to lower transaction fees on Professor XRP book,” he writes. Via X, Maartunn also predicted an increased adoption in the coming months in Europe: “Using RLUSD is to catch up! With MICA regulations that lead to the USDT delete in Europe, I expect this trend to accelerate further!”
The accompanying graph, which the analyst has shared sharply in RLUSD transactions over the past few weeks. The number of cumulative transactions has exceeded 160,000 in recent times, as the number of daily transactions exceeds 600 in several days in February – a noticeable increase for the newly launched Stablecoin.
Rulusf climbing comes after its organized launch on December 17. After securing the necessary approvals, Stablecoin was added to the main trading platforms such as Bitstamp, Drocolut and Zero retail – drive. It is worth noting that Ripple has declined more than 1.05 million icons on February 10, indicating the expansion of the continuous offer.
Despite reaching a teacher of $ 120 million, RLUSD is still behind the main Stablecoin leaders. Circle’s USDC, another organized organizations, has the maximum market by about $ 56.5 billion, and Tether’s Usdt – the current market candidate – exceeds all competitors by $ 142 billion.
The XRP price faces a key resistance
At the time of the press, XRP was traded at $ 2.61. After confirming its outbreak of a convergence channel on February 12, the price rose to $ 2.83, but failed to close above the level of 0.618 Vibonacci at $ 2.77, which still serves as major resistance. The most important support is currently at the RENDRACTION 0.5 FIB at $ 2.58. If XRP runs a decisive break above $ 2.77, other goals include $ 3.05 (0.786 FIB) and $ 3.40 (higher January).
Distinctive image created with Dall.e, Chart from TradingView.com