Ripple CEO Says Stablecoin RLUSD Approved, Will Be Listed on Exchanges Soon

• XRP Surges 8% After RLUSD Approval
• RLUSD gets NYDFS endorsement
• Ripple strengthens stablecoin market

According to Ripple’s CEO, the company’s RLUSD stablecoin has received an important regulatory endorsement by being approved by the New York State Department of Financial Services (NYDFS).

The confirmation came directly from Ripple CEO Brad Garlinghouse, who expressed optimism about the future of the dollar-pegged token. “Listings and exchanges with our partners will be available soon,” Garlinghouse said.

This just in…we have final approval from @NYDFS for $RLUSD ! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you'll hear it from @Rippl to first.

— Brad Garlinghouse (@bgarlinghouse) December 10, 2024

The news had a significant impact on the market, especially for the cryptocurrency XRP, which is largely associated with Ripple. Prior to the announcement, XRP was trading at around $2,00, but after the approval of RLUSD, its market value experienced a rapid rise to $2,42, marking an increase of more than 8%.

This increase is notable, especially in a market where regulatory developments often dictate price trends. The approval of RLUSD appears to be a strong catalyst for XRP, suggesting a positive reception from both investors and users seeking greater stability in crypto trading.

The acceptance of RLUSD on major cryptocurrency exchanges not only solidifies Ripple’s position as an innovator in the cryptocurrency space, but also reinforces confidence in the stablecoin market, which continues to grow in popularity and importance.