XRP trading volume soars as Ripple’s RLUSD minting accelerates
10th February 2025 – (New York) Ripple Labs has made significant strides in promoting the adoption of its stablecoin, RLUSD, minting 9.1 million new tokens. This growth follows recent partnerships with Revolut, a prominent London-based financial service, and Zero Hash, a firm specialising in financial infrastructure and cross-border transactions. As a result of these collaborations, RLUSD is now accessible to customers on both the Ethereum (ETH) and XRPL networks. Earlier this year, leading exchanges such as Bitstamp and Bullish began integrating RLUSD, with ongoing discussions to expand its availability on major platforms like Binance and Coinbase.
On Coinbase, XRP experienced an astonishing spike in trading activity, with daily volume increasing by approximately 10,000% to reach $438 million. This surge indicates that traders are actively adjusting their positions in response to price fluctuations and heightened market volatility. The uptick reflects a growing interest in XRP trading as investors adapt to changing market dynamics and Ripple’s strategic initiatives
After peaking at $2.50, XRP experienced a pullback of around 10%, stabilising at $2.431. This suggests a resurgence of buying interest above the $2 mark, while selling pressure appears to be easing. However, XRP remains below the crucial 50-day Simple Moving Average (SMA) of $2.70, which has shifted from a support level to resistance. If XRP manages to reclaim this threshold, it could target the psychological $3 mark. Despite recent activity, the asset’s overall performance for the week remains relatively unchanged, indicating that bullish momentum has yet to fully materialise.