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Ripple is pushing for listings of its stablecoin RLUSD on major exchanges like Coinbase and Binance, following its approval from the NYDFS. However, exclusivity agreements with existing stablecoin partners and technical integration challenges pose significant barriers to its expansion. Ripple is actively addressing these issues while targeting additional listings to enhance market demand and stability.
Ripple President Monica Long expressed optimism about the potential approval of XRP exchange-traded funds (ETFs), with several companies having filed applications with the U.S. Securities and Exchange Commission. The anticipated leadership change at the SEC, along with a friendlier approach from the new U.S. administration, could accelerate this process.Additionally, Ripple's stablecoin, RLUSD, is expanding its presence on various exchanges, reflecting a growing demand for stablecoins. Long expects 2025 to be pivotal for the cryptocurrency sector, as Ripple's payments business has already seen significant growth.
Ripple's RLUSD stablecoin is set to be listed on more major exchanges imminently, according to President Monica Long. Launched on December 17, RLUSD is currently available on several platforms, with a market cap of $71.8 million and over 76% of trading volume on Bullish. Ripple has also partnered with Chainlink to enhance RLUSD's utility by integrating price feeds on Ethereum and the XRP Ledger. Long anticipates strong growth for stablecoins this year, driven by increased demand in Ripple's payments business, which has doubled over the past year. Additionally, she hinted that XRP could soon see its own exchange-traded fund (ETF) following recent filings by various companies.
Ripple has integrated Chainlink to provide real-time pricing data for its RLUSD stablecoin, enhancing its utility in decentralized finance (DeFi). This collaboration allows developers to incorporate RLUSD into various applications, ensuring reliable and transparent pricing through Chainlink's decentralized data feeds. With a market cap of $72.3 million, RLUSD aims to leverage Chainlink's infrastructure to access the $867 trillion tokenized asset market while maintaining stability and trust in decentralized markets.
Ripple’s RLUSD stablecoin has processed over 33,000 transactions in six months, capitalizing on the European Union's MiCA regulations amid Tether's decline. Launched in December 2023, RLUSD is pegged to the US dollar and has gained traction across multiple exchanges, positioning itself as a compliant alternative in the evolving crypto landscape.
XRP is poised for significant price gains in 2025, bolstered by key developments such as Elon Musk's support against the SEC, potential regulatory shifts under a Trump administration, and increasing adoption in the Middle East for remittances. Additionally, Ripple's new stablecoin, RLUSD, is expected to enhance liquidity and support XRP's value. The recent bullish reversal in XRP's market indicates a strong upward trajectory with ample room for growth.
Justin Sun allegedly pressured CoinDesk's new owners, Bullish, to remove a critical article about his $6.2 million purchase and public consumption of a banana artwork by Maurizio Cattelan. The piece, which also highlighted Sun's legal troubles with the SEC, raised concerns among CoinDesk's journalists regarding editorial independence after its removal. Despite the article being taken down, a version remains available through Yahoo News, intensifying tensions between the editorial team and Bullish.
Ripple has received final approval from the New York Department of Financial Services to launch its stablecoin, Ripple USD (RLUSD), which will be pegged 1:1 to the US dollar and fully backed by USD deposits and short-term US government treasuries. CEO Brad Garlinghouse announced the news, stating that exchange and partner listings will be available soon.In a separate incident, Haven Protocol experienced a significant mint exploit, resulting in the illicit creation of over 500 million XHV tokens, causing the token's price to plummet by over 60%. The breach was attributed to a vulnerability in the range proof validation code, leading to a critical security gap in the protocol.
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ripple seeks major exchange listings for rlusd stablecoin expansion
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