Ripple’s RLUSD Surges Past $215M Volume, Eyes Top 50 Crypto Spot in Market Shakeout

Key Takeaways:

• RLUSD has increased its presence in the 50 most active cryptocurrencies in terms of 24h trading volume and passed $215 million.
• The CoinMarketCap data is placing RLUSD very close to the number 50 mark on the market cap list, narrowly missing vaulting above a host of crazy tokens.
• Although the general crypto market is facing storms, the consistent nature of RLUSD and the increased usage of the digital currency is keeping it in the limelight.

Ripple USD (RLUSD) also received a new push in terms of activity as the stablecoin gained momentum. As indicated by the most recent CoinMarketCap data, the latest RLUSD is holding on well in the group of the most actively traded selections, suggesting a potential use case and not a quick sale.

Read More: Binance Lists Ripple’s RLUSD Stablecoin With Zero Fees as Market Cap Tops $1.3B

In a relatively short time, RLUSD has attracted over $215 million of transaction volume within 24 hours. This is a remarkable number in terms of a USD-pegged stable coin, especially in the context that all the market is shrinking back.

Contrast to tokens with strong fluctuations – often suffering deep decreases after each several weeks, RLUSD still holds its stability of around $1.00 milestone. CoinMarketCap shows a familiar model of stablecoin: prices nearly do not change but the transaction flows are significant. This often reflects practical usage demand as trading pairs, liquidity and payment coordinator, instead of speculative holding.

Having a market cap of approximately $1.33 billion, RLUSD is already in proximity to the tokens such as KuCoin Token (KCS) and MYX Finance, which are already losing their presence. The difference between the RLUSD and the 50th position is no longer tremendous, and thus changes will rather concern whose momentum is declining than the flows.

Read More: Ripple Launches Treasury Platform After $1B GTreasury Deal, Targeting Trapped Capital Globally

The general crypto market has been devoid of strength with many of the mid-capital investments losing into single digits within the last seven days. Traders in that mix would rather shift cash in stablecoins to remain liquid but with less risk.

That rotation wave must be the one that RLUSD is riding on. Although coins such as NEAR, ICP, and ETF maintain a red streak on the weekly chart, those of RLUSD remain flat and yet busy. That is the red flag: high volume but no price movements are indicative that it is core infrastructure and not a meme coin.

Other traders are hoarding stabilized coins in centralized exchanges in the hope that volatility will rebound. The increase in RLUSD on the large venues will allow it to be more visible in this cycle change.

Prior to the recent explosion, Ripple inserted another 10 million RLUSD to the XRP Ledger. That action corresponded with increased demand for transactions and maintained liquidity. Increasing supply is not the way to climb up ranks, but it is a support of constant use, without leakages.

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