XRP Surges 14% Today Driven by RLUSD Stabilecoin Launch; XRP to $4?

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Portalcripto2024/12/17 14:55

By:By Roberta Cesar

O XRP is seeing an impressive price surge today, rising over 14% on Tuesday morning. The surge comes on the back of Ripple's recent announcement that officially confirmed the launch of its stablecoin Ripple USD (RLUSD) , fully backed by dollars today, December 17th.

XRP Surges 14% Today Driven by RLUSD Stabilecoin Launch; XRP to $4? image 0

Source: TradingView

According to Ripple, the digital stablecoin RLUSD will initially be available on platforms such as Uphold, Bitso, MoonPay, Archax and CoinMENA, with promises of expansion to other exchanges in the coming weeks, including Bitstamp, Mercado Bitcoin and Zero Hash.

The news has boosted XRP prices over the past 24 hours. The price of XRP today 17/12/2024 is showing a surprising rise, the largest among the main crypto assets in the market, which made the asset trade above US$ 2,71, but it was unable to sustain its upward movement and retracted to the current level.

XRP to $4? Renowned cryptocurrency analyst Ali Martinez observed Ripple’s native token’s recent price action suggests that it could see a rally towards $4 soon as it manages to overcome the $2,60 resistance. It is worth noting that today’s bullish move took XRP beyond this zone, setting its peak at $2,71.

“$XRP has been consolidating in this bull flag for a while now, but once it clears the $2,60 resistance, I think it’s off to the races heading towards $4!” he wrote.

XRP Surges 14% Today Driven by RLUSD Stabilecoin Launch; XRP to $4? image 1

Source: TradingView/Ali Martinez

At the time of publication, the price of XRP was quoted at $2,67, up 13.2% in the last 24 hours. In its weekly development, the token showed an appreciation of 19.5%.

Additionally, trading volume is also showing a significant increase. XRP (XRP) trading volume is at $19.783.208.284 in the last 24 hours, representing a 195% increase from a day ago and signaling a recent surge in market activity.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.

Tags: Ripple Ripple (RLUSD) XRP

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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