Ripple USD (RLUSD) Volume Jumps 49% on This Top Crypto Exchange

$RLUSD, the U.S.-dollar-backed stablecoin launched by blockchain payments firm Ripple Labs Inc, shows an impressive outlook on Bullish, a top crypto trading platform. According to on-chain data, the stablecoin has seen its volume drop over 20.57% to $158.86 million. Despite this slip, it has maintained a relatively positive volume on Bullish Exchange, a Gibraltar-based crypto trading platform.

$RLUSD In Rally Mode

When Ripple Labs launched the $RLUSD, it ensured it went live on top global exchanges. However, some, like Bullish, which integrated the stablecoin later on, have become a critical market for the stablecoin.

Per data from CoinMarketCap, two key $RLUSD trading pairs, $USDC and $XRP, saw impressive jumps in the past 24 hours. The $RLUSD/$USDC pair jumped 49%, with $78,776,106 traded. This is also complemented by the 35.88% jump in the $RLUSD/$XRP pair that has seen over $57.44 million traded.

Overall, the $RLUSD stablecoin volume is pegged at $160 million following the recent mint of 1,000,000 tokens on $XRP Ledger. The $RLUSD stablecoin remains one of the most traded tokens in its class relative to its age in the broader crypto ecosystem.

Ripple Labs and plans for $RLUSD

As the flagship stablecoin of the broader Ripple Labs ecosystem, $RLUSD is poised to play a more integral role in the functioning of the $XRP Ledger. The stablecoin will specifically power liquidity pools on the pool’s AMM engines.

Beyond this, it will also play a unique role in the tokenization agenda of the blockchain payments firm. As a USD-backed asset, new tokenization tools can easily tap it as a reference peg asset to enjoy its regulatory allowance.

Overall, the $RLUSD serves many users within its ecosystem, and there is a plan to integrate it further into other ecosystems via its potential partnership with Cardano.