Ripple’s Stablecoin Launch to Boost XRP Activity, Will it See the Coin Fly Higher?

XRP is enjoying its time in the sun.

The global payments project endured a long, long winter following legal action from the Securities and Exchange Commission (SEC).

But following speculation that Donald Trump’s SEC administration will likely drop the case against XRP, the coin has celebrated in style.

Looking back 12 months, XRP has gained an impressive 300% – and the wins keep rolling in for the community, following the announcement of a native stablecoin RLUSD.

Now, with a release date announced, the market is anticipating whether RLUSD will provide a boost in on-chain activity for the old-school blockchain.

But we might not even have to wait until December 17 – RLUSD’s release date – before getting an answer.

Related: Citi Report Highlights Stablecoins’ Role in Strengthening US Dollar

Traders and DeFi Users Flock to XRP as Project Soars

The heightened interest in XRP has already hit the blockchain.

Xaman, the XRP Ledger’s primary self-custodial wallet has experienced a 250% surge in activity over the past few months, hitting 212,000 active users last week.

To put these numbers in context, this time last year Xaman only saw around 80,000 active weekly users.

And it’s not just DeFi users propelling the project to end 2024 – traders are also noticing XRP’s momentum.

The coin is experiencing record-highs in open interest, an important metric for tracking the derivative markets. Simply, the greater the levels of open interest, the more money flooding into XRP positions.

RLUSD Launch to Add Another High-Profile Stablecoin to Growing Tokenisation Trend

Positive trends aside, the most important news is the launch of RLUSD, slated for tomorrow morning.

The on-chain stablecoin pegged to USD will go live on Ethereum and XRP Ledger.

The company’s announcement, released today, also revealed how each token would maintain its peg.

RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents–designed to ensure its stability, reliability and liquidity.

Statement from Team Ripple

The coin will initially launch on Uphold, MoonPay and will eventually expand to other platforms like Bitstamp and Mercado Bitcoin.

Ripple CEO, Brad Garlinghouse, was excited about the coin’s potential among an evolving legislatory environment.

As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.

Ripple CEO Brad Garlinghouse

Although some are concerned how long it will take RLUSD to hit (and stay at) $1 USD, analyst David Schwartz has warned against people trying to “FOMO” into the stablecoin.