Ripple Mints 1.79 Million RLUSD Today, XRP Price Gains

Ripple Labs has minted 1,79 million $RLUSD tokens at its Treasury, marking a notable event in the stablecoin’s activity. Following this, the same amount was transferred internally between Treasury accounts. Whilst, the $XRP price rallied amid the bullish sentiment in the crypto market.

Close Look At Ripple’s $RLUSD

According to on-chain data, subsequent transactions shuffling 500,000 $RLUSD through varied routes were also recorded today. The minting of additional $RLUSD tokens highlights the growing importance of liquidity within the stablecoin ecosystem. By securing multiple listings, Ripple aims to increase $RLUSD’s availability and usability in global markets.

For further context, the $RLUSD stablecoin recently gained traction after its listing on Bullish, a centralized crypto exchange (CEX). Despite its global reach, Bullish clarified that trading of $RLUSD is restricted to users in supported regions. For instance, UK-based investors must meet specific eligibility criteria to access the token. $RLUSD stands out as the fourth asset added to Bullish last month, joining MOCA, Ethereum Classic (ETC), and EDU.

💵💵💵💵💵💵 1,790,000 #$RLUSD minted at $RLUSD Treasury.https://t.co/246d6Fh271

— Ripple Stablecoin Tracker (@RL_Tracker) January 6, 2025

This stablecoin, issued as an ERC-20 token, is available across seven trading pairs, making it the most paired asset listed on Bullish in recent months. The pairs include $RLUSD/USDC, BTC/$RLUSD, ETH/$RLUSD, USD/$RLUSD, EUR/$RLUSD, SOL/$RLUSD, and $XRP/$RLUSD.

Ripple launched $RLUSD in December 2024, with initial listings on prominent platforms like Bitso and Uphold. Singapore’s Independent Reserve also embraced $RLUSD during its first entry into the country’s market. As a stablecoin regulated by the New York Department of Financial Services (NYDFS), $RLUSD is among the industry’s most tightly monitored tokens.

$XRP Price Today

Amidst the continued minting of Ripple’s $RLUSD, the ecosystem’s star token, $XRP, witnessed a significant rise in its price. As of writing, the $XRP price gained 1.28% to $2.42 on Monday, January 6, 2025.

The token price ranged between $2.38 and $2.45 today. This indicates lower volatility for Ripple’s native crypto. Meanwhile, analysts remain bullish on the crypto’s future price trajectory with predictions of attaining the iconic $3 mark soon.