RLUSD Minting Hits $100M: The Stablecoin Showdown You Didn’t Know You Needed!

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In a universe where the improbable is merely a Tuesday, Ripple USD (RLUSD) has decided to throw a party, and guess what? It’s a $100 million bash! Since April 1, this stablecoin has been minting money faster than a hyperactive printer on a caffeine binge, making it one of the most prolific releases in recent memory. 🎉

Earlier this week, Ripple, in a fit of generosity, decided to issue $50 million worth of RLUSD on Tuesday, followed by another $50 million on Wednesday. It’s almost as if they were trying to set a record for the most money printed in a week without a single paper cut. This sudden surge in minting came after Ripple decided to add RLUSD to its official payments system, which, as you might guess, sent demand skyrocketing like a catapulted whale. 🐋

RLUSD: The New Contender in the Stablecoin Arena

Industry experts, who are often seen wearing tinfoil hats and sipping on questionable beverages, believe that RLUSD could very well reshape the crypto market. It’s like David versus Goliath, but with more spreadsheets and fewer slingshots. Major stablecoins like Tether (USDT) and USD Coin (USDC) might want to start practicing their defensive maneuvers. Former Binance CEO Changpeng Zhao, in a moment of clarity, remarked that while it may seem like a “stablecoin war,” it’s actually just a healthy competition that’s only just begun. Who knew finance could be so… lively? 💥

Stablecoin war, I mean healthy competition, just getting started.

— CZ BNB (@cz_binance) April 2, 2025

As RLUSD continues to gain popularity, XRPL-based DeFi apps are expected to benefit, which in turn will increase the demand for XRP tokens. RLUSD is a stablecoin tied 1:1 to the U.S. dollar, available on both the XRP Ledger and Ethereum, and is fully backed by U.S. dollar deposits, short-term Treasuries, and cash equivalents. It’s like a financial safety net, but without the annoying strings attached. 🪢

Users can create RLUSD by depositing dollars with trusted partners or, in a twist worthy of a soap opera, get cash by burning their tokens. The price remains stable through market actions: if RLUSD drops below $1, traders swoop in like seagulls on a dropped chip to redeem it at $1, thus increasing demand; if it’s above $1, they mint more, boosting supply. It’s a delicate dance of economics that would make even the most seasoned ballerina dizzy. 💃

RLUSD Approaches $250M In Market Cap

Ripple has noted that since its launch in December 2024, RLUSD has gained strong global traction, reaching nearly $250 million in market cap and a staggering $10 billion in trading volume. This is proof that there’s a growing demand for a USD-backed stablecoin designed with enterprise-grade security and compliance in mind. Who knew that financial stability could be so… trendy? 🕶️

In addition to partners and exchanges like LMAX Digital, Zero Hash, Bitstamp, and Bullish, RLUSD was recently made available on Kraken, one of the world’s longest-standing crypto exchanges. This means that retail users can now join the fun, because who doesn’t want to be part of a financial revolution? 🎊

XRP Takes a Tumble After Tariff Announcement

In a plot twist that could only be described as “classic,” XRP dropped 5% on Wednesday after President Donald Trump announced new tariffs on all international trading partners. This unfortunate dip wiped out the recent gains that XRP had enjoyed from Ripple’s announcement about adding the RLUSD stablecoin to its Ripple Payments system. It’s a stark reminder that global events can have a rather dramatic impact on crypto markets, much like a soap opera cliffhanger. 📉

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2025-04-03 11:13