Latest RLUSD launch delayed: What does this mean for XRP’s rally? in Cryptocurrency

However, in an X (formerly Twitter) post, Ripple emphasized its commitment to a compliant launch and pledged to provide further updates as soon as possible. Recently, Charles Hoskinson, founder of Cardano, also  expressed his excitement for Ripple’s RLUSD stablecoin, fueling speculation that Cardano may eventually integrate the stablecoin into its ecosystem. Hoskinson’s tweet came in response to news detailing RLUSD’s launch and could signal that Cardano is open to supporting RLUSD, which would be significant for its network. Currently, Cardano’s blockchain has a modest $24 million in stablecoins, but the addition of RLUSD could help boost its stablecoin volume and overall adoption. As Cardano continues to seek growth in DeFi, integrating RLUSD could potentially strengthen its stablecoin market position, helping it compete with dominant players like Tether and USD Coin. Is XRP’s price surge connected to RLUSD? XRP’s recent rally to $2.40 has sparked debate over whether RLUSD’s delayed launch influenced its surge, or if broader market dynamics are at play.The chart revealed that XRP was in overbought territory at press time, with the RSI at 76, indicating strong bullish sentiment. Source: TradingView The OBV showed great accumulation, hinting at sustained demand, possibly tied to RLUSD hype.However, the absence of direct news-driven catalysts suggested that XRP’s price action aligned more with altcoin market momentum and speculative trading rather than RLUSD’s launch delay.Traders need to watch for a correlation with additional Ripple announcements to gauge if sentiment shifts.Read Ripple [XRP] Price Prediction 2024-2025 What’s next? For XRP, ongoing institutional interest, coupled with RLUSD speculation, may continue to fuel its price movement. However, market watchers should closely monitor regulatory developments and potential partnerships.If RLUSD expands beyond Ripple’s ecosystem, it could significantly influence XRP’s role in DeFi, with major implications for broader market dynamics.  » …

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Carla Contass

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