30s Summary

As of December 15, 2024, Axelar connects XRPL to the XRPL EVM Chain and 69 other blockchains. XRP, which surged significantly in November 2024, is expected to gain popularity following the upcoming release of the RLUSD stablecoin. Transactions of RLUSD will primarily use the XRP Ledger and XRP-EVM sidechain. XRP’s price has seen significant fluctuations recently, mainly due to political shifts and the crypto-friendly environment hinted by president Trump’s election victory. Its market cap is presently around $138 billion. Ripple’s RLUSD stablecoin also gained approval from the New York Department of Financial Services, completing a successful year.

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Here’s a cool update as of December 15, 2024. Axelar is now the link that connects XRPL to the XRPL EVM Chain, along with 69 other blockchains. Pretty impressive, huh?

Alright, let’s talk about XRP. This digital currency had a pretty epic surge back in November 2024. This was mainly due to some cool political shifts and a bunch of new developments in their ecosystem. Georgios Vlachos, who is one of the masterminds behind Axelar, which is the connecting link between XRP Ledger and the XRPL EVM chain (and remember, 69 other blockchains too), spilled the beans that the upcoming RLUSD stablecoin will probably make XRP even more popular in 2025.

According to Vlachos, loads of people, especially in places with emerging economies, use stablecoins for transactions and to store value. The transactions and remittances of RLUSD will mostly go down on the XRP Ledger and XRP-EVM sidechain. This is good news for XRP, as it’ll demand more of it. In quote, he said: “When you do those transfers, you pay for gas in XRP. So, the XRP holders are still going to benefit because you burn some XRP every time you do a transaction.”

Just earlier this month, on December 3rd, XRP hit a seven-year high at about $2.90. While it came down a bit after that, people are still very interested in it, and there are several reasons why it’s expected to stay popular into 2025.

Another thing to note is that XRP’s price has been pretty eventful recently. After Donald Trump’s win in the elections on November 5th, there was a major price surge for XRP and other cryptos. Why? Because Trump is known for being pretty keen on crypto and his win hinted at a more supportive atmosphere for the crypto industry in the US.

Then, later in the month, asset management firm WisdomTree threw in their hat and applied for an XRP ETF. This was following the trend set by Bitwise, Canary Capital, and 21Shares, who had all previously submitted applications for an XRP ETF. Oh, and remember when XRP got the better of Solana in terms of market capitalization? Yep, on Dec. 1, XRP became the fourth-largest cryptocurrency by market cap.

Right now, XRP’s market cap is around $138 billion, just around $2 billion less than Tether’s.

Also, Ripple’s RLUSD stablecoin got the thumbs up from the New York Department of Financial Services on Dec. 10. This dollar-backed stablecoin will have more than enough collateral from fiat cash reserves and short-term cash equivalents like US Treasury bills. It will also be redeemable at a 1:1 ratio with US dollars.

But before you dive in headfirst, remember that investing can be risky business. So make sure you do your homework before making any big decisions.