Latest Ripple News: RLUSD Listing on Several Exchanges and XRP ETF

Bittime - Ripple is increasingly demonstrating its ambition to become a major player in the global cryptocurrency ecosystem. In her latest announcement, Monica Long, President of Ripple, revealed that the company is preparing to launch RLUSD. 

The stablecoin will soon be listed on more exchange platforms. Pegged to the US dollar, RLUSD has attracted attention since its launch in 2024. 

RLUSD Gets Attention

Initially, this stablecoin was present on two major blockchains: Ethereum and XRP Ledger (XRPL). With 58,823,317 RLUSD already in circulation and 795 token holders, this project seems to have found a place in the hearts of market players. 

While there is still the majority of tokens (68%) held in Ripple deployer accounts, the number of transactions recorded—a total of 1,761 transactions—indicates a significant level of activity in the market.

It's not just stablecoins that are Ripple's main focus at the moment. Ripple is also preparing to launch an XRP ETF, which is expected to follow in the footsteps of Bitcoin and Ethereum in gaining approval from authorities. 

Read also: Ripple Coin Price (XRP) Predicted to Rise to $11, Beware of Missing the Train!

Monica Long optimistically revealed that 2025 will be the year that an XRP ETF could be launched soon. This is because the application process is now just waiting for approval from the US Securities and Exchange Commission (SEC). 

However, this process is likely to be slightly delayed due to changes in the internal structure of the SEC.

RLUSD and DeFi Adoption

One of the important steps Ripple took was the integration of RLUSD with Chainlink, which provides price feeds decentralized and accurate. 

This will provide the necessary infrastructure for RLUSD to be used more widely in decentralized finance (DeFi) applications. 

With more transparent and reliable price data, DeFi applications using RLUSD will be able to run more smoothly, offering more affordable and secure financial services.

XRP Adoption in Japan: Market Growth Potential

The highlight of Ripple's strategy will also apparently involve expanding into international markets, particularly in Japan. Amidst these developments, XRP is eyeing mass adoption in the country. 

Banks in Japan, through the integration of XRP Ledger, are expected to increase the efficiency of the international payment system. 

With the announcement by SBI CEO, Yoshitaka Kitao, who revealed that this integration will simplify the process of currency exchange and cross-border payments, the adoption of XRP in Japan has the potential to drive XRP market growth significantly.

Read also: XRP Price Prediction for Next Week: Pay Attention to This Support Point!

If only 1% of Japan's banking sector adopts 

This could cause the price of XRP to rise to as low as $3.50 (around IDR 56,350). These price movements show how big Ripple's potential is in overhauling the global banking landscape.

FAQs About Ripple

1. What is Ripple (XRP)?

Ripple (XRP) is a cryptocurrency designed to facilitate cross-border payments with low fees and fast transaction times. XRP aims to be a solution to the problems faced by traditional payment systems.

2. What is RLUSD?

RLUSD is a stablecoin launched by Ripple, pegged to the value of the US dollar (USD). 

3. What is an XRP ETF?

An XRP ETF is a financial product that allows investors to purchase shares representing XRP holdings without having to own or hold XRP directly. This product is similar to previously approved Bitcoin and Ether ETFs.

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Reference 

CoinDesk, XRP ETF Could Soon Be a Reality, Ripple President Says as RLUSD Gains Traction, accessed January 8, 2025.

Cryptopolitan, Ripple president announces plans to ‘imminently’ list RLUSD on more exchanges, accessed January 8, 2025.

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