- RLUSD recorded a 16% rise in daily trading volume, reaching $109 million despite market-wide altcoin losses.
- XRP declined by 3.3% hours after printing a golden cross, reflecting broader market sentiment amid FOMC rate cut expectations.
- Analysts anticipate RLUSD may benefit from increased liquidity and tokenization trends as stablecoin demand shifts in a tightening market.
The broader cryptocurrency market is currently facing a bearish correction, with major assets like Bitcoin (BTC), Ethereum (ETH), and XRP experiencing noticeable losses. However, Ripple Labs’ stablecoin, RLUSD, is showing a markedly different performance trend. Over the last 24 hours, RLUSD has posted a 16% increase in trading volume, reaching $109 million based on data from CoinMarketCap.
XRP, despite being closely tied to the Ripple ecosystem alongside RLUSD, dropped by 3.3% during the same timeframe. The drop followed hours after the digital asset registered the first golden cross of this month. Despite the trend of XRP decline and its correlation with the macroeconomic factors in the whole market, the ongoing trading of RLUSD implies the ecosystem does not suffer liquidity loss.
Stablecoin Divergence Draws Attention
While both RLUSD and XRP operate under Ripple’s umbrella, their market paths are increasingly diverging. RLUSD’s resilience during a downturn hints at a broader role within Ripple’s growing real-world asset (RWA) tokenization ambitions. The stablecoin’s consistent volume during a bearish cycle may provide Ripple with added leverage in maintaining transactional liquidity across its platforms.
The current downturn coincides with rising expectations for an interest rate cut from the U.S. Federal Open Market Committee (FOMC) within the week. Market analysts view such short-term corrections as a natural part of altcoin valuation cycles. A favorable rate decision could quickly reverse losses across digital assets, including XRP, potentially reinforcing RLUSD’s stability.
RLUSD Eyes Billion-Dollar Market Cap
RLUSD’s upward momentum is drawing interest from stakeholders monitoring its progress toward a $1 billion market capitalization milestone. The coin’s design supports regular minting and burning, helping maintain its peg and facilitating liquidity movement. As demand grows for RWA-compliant digital assets, RLUSD may secure a stronger position in the stablecoin segment, even amid increased competition from new entrants such as USAT from Tether.
