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The Ripple Stablecoin Tracker recently reported a staggering 20.7 million RLUSD in transactions over just 24 hours, sending ripples through the crypto community. This surge in activity was highlighted through a series of twelve cryptocurrency transfers, each involving at least one million RLUSD.
In detail, the tracker pointed out that anonymous wallets engaged in significant movements, transferring amounts ranging from 1 million to 3.5 million RLUSD to various other unknown blockchain addresses. Among these transactions, the largest included transfers of 3,500,000, 3,039,009, and another 3,500,000 RLUSD. Additionally, it was noted that 1,221,000 RLUSD were minted at the Ripple Treasury, showcasing the steady growth of this stablecoin.
Since its introduction in early December, after a closed beta period starting in August, RLUSD has been making headlines. Designed for use on the XRPL and Ethereum chains, this stablecoin aims to enhance cross-border B2B payments and streamline remittances, as well as provide convenient on/off-ramps for fiat currencies. Ripple has minted over 80 million RLUSD, reportedly backed fully by USD and cash-equivalent reserves. An attestation report is expected soon to clarify the assets backing RLUSD.
Highlighting the significance of this development, Ripple President Monica Long shared her insights during an interview with Bloomberg. She expressed optimism for 2025, predicting a notable rise in crypto demand across the board—not limited to Ripple and RLUSD. Long emphasized the expected surge in demand for stablecoins, positioning RLUSD as a strategic asset for both financial institutions and retail users alike.
Currently, RLUSD has made headway with its adoption on platforms like Bitstamp and Bullish, but Long anticipates that more large cryptocurrency exchanges will come on board soon. This momentum suggests that RLUSD could gain widespread acceptance across the broader cryptocurrency and blockchain ecosystem.
In addition, Long shared her expectations regarding future developments from the SEC, projecting that crypto-based exchange-traded funds (ETFs) will see continued approvals. She is hopeful that the XRP ETF will be among the upcoming approvals, potentially following in the footsteps of Bitcoin and Ethereum ETFs that received green lights last year.
With these statements and developments, the crypto landscape appears to be on the brink of significant change, and Ripple’s advancements with RLUSD could play a crucial role in shaping the future of digital currencies.
