30s Summary

Axelar, a platform connecting XRP Ledger to other blockchains, plans to introduce a new stablecoin called RLUSD in 2025, boosting demand for XRP. Under the mechanism, XRP will be burned (used up) while processing transactions using RLUSD. The increased traction follows XRP’s bull run in November 2021, supported by political shifts and ecosystem updates. Notably, asset management company WisdomTree filed for an XRP exchange-traded fund (ETF), bolstering the credibility of the cryptocurrency. Ripple’s dollar-backed RLUSD stablecoin was also recently approved by the New York Department of Financial Services, adding to XRP’s appeal.

Full Article

Heads up guys! Looks like our friends at Axelar, the platform that links XRP Ledger to other blockchains, have been busy. They confirmed that their work should help increase demand for XRP in 2025, thanks to a new stablecoin named RLUSD. So, if you’re using stablecoins for transactions or simply as a piggy bank, watch out for this one!

Axelar co-founder Georgios Vlachos, says transactions using RLUSD will mostly happen via XRP Ledger and its associated XRP-EVM sidechain. This will naturally boost XRP’s demand. He explains that XRP holders stand to gain each time a transaction happens, as some XRP gets burned (or used up) when processing these transfers.

Remember the XRP bull run last November? When XRP’s price shot up dramatically to nearly $2.90, a level not seen in seven long years? Well, that epic rally, driven by political shifts and exciting updates in the ecosystem, could be just a taste of what’s to come in 2025.

After that rally in November, XRP’s price deflated a bit due to market dynamics indicating that the asset was overbought. Despite this, there are several factors that could keep investors keen on XRP as we move closer to 2025.

Firstly, remember when the crypto-sphere exploded upon Donald Trump’s election victory? That’s because his stated support for crypto had a very positive impact on XRP and other cryptocurrency prices.

And then on Nov. 25, we saw WisdomTree, an asset management firm, join the club of those filing for an XRP Exchange-Traded Fund (ETF) with the SEC. This was just another booster for XRP’s prominence and credibility.

Also, in case you missed it, XRP pulled a fast one on Solana by market cap on Dec. 1 – pushing XRP into the four top cryptocurrencies ranking.

XRP’s market cap, as per CoinMarketCap, presently stands around $138 billion – just a bit shy of Tether’s $140 billion.

Adding to XRP’s upcoming enticements, Ripple’s RLUSD stablecoin recently received the green light from the New York Department of Financial Services. This means the dollar-backed RLUSD will be backed up by cash and short-term cash-like securities like U.S. Treasury bills, and can be exchanged 1-to-1 with USD.

Before we end, always remember that investing has risks and it’s always a good plan to do your homework before jumping in. Happy trading!