RLUSD entered the TOP 50 for the first time ever, forming an XRP-shaped landscape in the stablecoin market.
Bitcoin’s (BTC) ongoing liquidity sweep definitely got to other major-caps, including Ripple coin (XRP). Even amidst the most severe bear market conditions, Ripple is making a breakthrough with their RLUSD stablecoin. The digital asset, pegged to $1, has just entered the TOP 50 by global crypto market cap.
Ripple Hits Ground-Breaking $1.55B Stablecoin Record
At the 48th spot, RLUSD is now sporting a $1,558,888,243 market capitalization. Namely, this week is particularly important for this compliance-focused stablecoin, as the mainstream banking representatives & crypto’s top industry figures are negotiating on a legal framework in regards to stablecoin yield.
Seasoned market connoisseurs such as Chart Nerd see the recent Bitcoin’s (BTC) liquidity sweep as a sort of a blessing. In fact, “60/50K might just be a HUGE blessing in disguise before vertical continuation”, – uttered the technical crypto analyst in one of his latest researches.
He draws attention to 2024, when big-time players stepped in during an ultra-fearful retail moment.
Barron Hints At Big Ripple News Coming Up This Week
On top of that, market researcher & millionaire investor Paul Barron claims to have insider knowledge of “something big brewing” in terms of Ripple’s RLUSD & The Clarity Act, which is to be revealed further on this week. According to Mr. Barron, it’s”hidden in plain sight. This could be the Ripple team’s biggest bombshell yet.”
This can have some positive implications on XRP’s price too, as XRP Ledger’s native coin still garners billions of dollars in trading volume each day as a remittance asset – figures considerably larger than RLUSD’s $90 million trading volume on Monday, according to real-time data from CoinGecko’s price aggregator.
$8 Target Still In Tact: XRP Relies On This Price Level
For XRP coin, the price has to hold above the upper regression band of $1.17 on the monthly time-frame. Per Chart Nerd’s technical analysis, the upside projection towards $8 in the longer perspective is still plausible if XRP’s price sustains the $1.17 level, replicating the 2024 bull run.
In a more pessimistic scenario, XRP’s next major demand territory lies at $0.73. This would mark a re-entry back into the 8-year symmetrical triangle, based on the aforementioned technical XRP analysis. Currently, the OG altcoin trades at $1.35, dwindling by 2.13% 24 hours.
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