30s Summary

Axelar, a platform that links XRPL to the XRPL EVM Chain and other blockchains, predicts the forthcoming RLUSD stablecoin will enhance XRP’s popularity in 2025. With most RLUSD transactions and remittances processed on the XRP Ledger, demand is expected to surge. In December 2024, XRP reached a seven-year peak of around $2.90. The rise was partially attributed to Donald Trump’s election victory and pro-cryptocurrency stance. WisdomTree then filed for an XRP ETF. Ripple’s RLUSD stablecoin, which is backed by fiat cash and can be exchanged 1:1 with US dollars, recently gained approval from the New York Department of Financial Services.

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Hey there! We’ve got some fresh news on Axelar, the massive platform linking XRPL to the XRPL EVM Chain and a whole bunch of other blockchains (69 to be precise!).

So, XRP is making some real noise, having an impressive run in November 2024, thanks to some political backing and exciting updates in the ecosystem. Georgios Vlachos, who co-founded Axelar, has some insights. He’s betting that the upcoming RLUSD stablecoin is going to make XRP even more popular in 2025.

Vlachos explained that folks worldwide, especially in developing countries, love using stablecoins for transactions and as a way to keep value. As most RLUSD transactions and remittances will be processed on the XRP Ledger (XRPL) and the XRP-EVM sidechain, it’s likely to boost XRP demand.

In his words, “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.”

On December 3, 2024, XRP reached a seven-year peak of about $2.90 but slowed down a bit after that. Despite this, investors are still keen on XRP as we move into 2025, thanks to a few key catalysts.

After Donald Trump won the election on November 5, XRP and other cryptocurrencies soared in price. This is mostly credited to Trump’s positive views on crypto and hopes for a more crypto-friendly environment in America. Later in November, WisdomTree, an asset management company, applied for an XRP ETF, joining others like Bitwise, Canary Capital, and 21Shares who had done the same.

Then, on December 1, XRP overtook Solana in terms of market capitalization. As of now, XRP’s market cap is around $138 billion, which is just under Tether’s $140 billion.

Ripple’s RLUSD stablecoin got the thumbs up from the New York Department of Financial Services (NYDFS) on December 10. This stablecoin, tied to the US dollar, is backed by fiat cash reserves and short-term cash equivalents, like US Treasury bills, and can be exchanged 1:1 with US dollars.

Remember, though, this is just news, not financial advice. Always do your homework before you make any investment or trading decisions.