Ripple’s stablecoin pegged to the US dollar, RLUSD ($1.00), has experienced a 106% increase in trading volume in the last 24 hours. According to CoinMarketCap data, the trading volume reached 39 million dollars. This surge highlights the growing interest in RLUSD within the market.
Market Performance of RLUSD
The majority of RLUSD’s trading volume originates from the RLUSD/USDC ($1.00) trading pair on the Bullish exchange. This pair accounts for 55.02% of the total volume, while the BTC ($102,912.00)/RLUSD and XRP ($2.33)/RLUSD pairs contribute 23.15% and 12%, respectively. RLUSD was launched after receiving approval from the New York Department of Financial Services and is pegged to the US dollar at a 1:1 ratio.
The reserves backing RLUSD include cash deposits and commercial papers. This stablecoin is actively traded on platforms such as Uphold, MoonPay, and Bitso. By offering transparency and reliability, RLUSD is increasing its popularity in the cryptocurrency market.
Innovations on XRPL
RLUSD was launched by Ripple 
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