RLUSD mint value surged to $47.4 million, 73.4% of which was made on the XRP Ledger. Ripple is actively testing RLUSD’s transaction capabilities through large-scale transfers. Analysts predict that the launch of RLUSD could boost XRP, although concerns about its role persist.
Excitement regarding the launch of the RLUSD stablecoin is stirring the XRP community as Ripple approaches the announcement of this long-awaited project. XRP enthusiasts are speculating that stablecoins could drive the price of XRP higher, as Ripple CEO Brad Garlinghouse confirmed that new stablecoins will be coming to market soon. Although the exact launch date remains elusive, recent increases in on-chain activity suggest the wait may almost be over.
Since late September, RLUSD minting has increased significantly. Initial reports indicated that approximately 1.7 million tokens were minted across the XRP Ledger (XRPL) and Ethereum networks. However, according to the latest statistics, minting is accelerating and the total supply of RLUSD now stands at $47.4 million.
Of this supply, 73.4%, or $34.8 million, was minted on the XRP Ledger, cementing the dominance of the XRP native blockchain in this stablecoin host. The remaining $12.6 million was minted in Ethereum, demonstrating a multi-network approach. This 2,788% rise in less than three weeks highlights Ripple’s focus on rapid testing and deployment of RLUSD.
Ripple’s RLUSD transfer test begins in earnest
Recent data from the Ripple Stablecoin Tracker shows that Ripple is busy conducting large-scale transfer tests for its stablecoins. These transactions occurred within a 24-hour period on October 13th, with millions of stablecoins being shuffled between major addresses on XRPL. In one example, 3.5 million stablecoins were transferred between two primary addresses, followed by an additional 4.5 million tokens. Ripple is testing the stablecoin’s ability to handle large-scale transactions, moving beyond minting to real-world money transfer scenarios.
Increased Ripple activity centered around RLUSD has triggered a bullish outlook for XRP. Analysts suggest that the stablecoin’s public offering could drive new use cases for XRPL and push XRP to new highs. However, despite some concerns that stablecoins could overshadow XRP, Ripple CTO David Schwartz reassured the community that XRP’s role on the ledger remains important. Ta.
Indicators reveal that stablecoin growth is accelerating, with total supply increasing from 1.7 million tokens to 47.4 million tokens within a few weeks. This has led to speculation about Ripple’s plans to popularize the stablecoin and how it could impact XRP market dynamics.
The launch of RLUSD could be a pivotal moment for XRP as the crypto industry takes note. Whether it’s a new catalyst for XRP prices or a strengthening of the XRPL ecosystem, one thing is clear: Ripple is making waves once again.
