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Ripple’s RLUSD Stablecoin Now Available Globally—Will XRP Follow Suit with New ATH?
Ripple Labs has officially launched its RLUSD stablecoin on a wide range of global exchanges, including Uphold, CoinMENA, Bisto MoonPay, and Archax. The news comes as the cryptocurrency market is abuzz with speculation about whether this development could propel Ripple’s native asset, XRP, to a new all-time high (ATH).
As RLUSD becomes available on various platforms worldwide, it is expected that this move will have a significant impact on XRP’s price performance. In recent months, XRP has already seen an impressive surge, increasing by 6% daily and hitting $2.71. Over the past week, the cryptocurrency has jumped 8.4%, while over the past month, the growth has been substantial at 126.5%.
In light of these developments, many are left wondering if RLUSD’s global availability will continue to boost XRP’s price in a similar manner. According to some analysts, this possibility is not entirely out of the question.
XRP’s recent breakout above $2.7 marks a significant milestone for the cryptocurrency, as it has now broken out from its most recent consolidation phase. The next major resistance level lies at $2.80, which was previously met with strong rejection. If XRP manages to break this barrier, there is potential for a retest of $3.00, a long-term psychological barrier that may inspire substantial buying pressure.
In conclusion, the launch of RLUSD globally adds fuel to the fire regarding XRP’s potential price growth moving forward. While past performance does not guarantee future results, the recent surge in XRP’s value combined with the global availability of RLUSD has led many to speculate about this possibility.
Therefore, investors would be wise to keep a close eye on these developments as they unfold and continue to assess the potential for further price appreciation in XRP.
Source: www.crypto-news-flash.com
