XRP Price Up 4% As Ripple Announced RLUSD Launch For Tuesday

Ripple is set to launch its USD-backed stablecoin, Ripple USD RLUSD/USD, on Tuesday. Following the announcement, Ripple’s native coin XRP XRP/USD is up 4% on the day, having surged 130% over the past month.

RLUSD will be available on major global exchanges, including Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans for additional listings on platforms such as Bitstamp, Bullish and Mercado Bitcoin in the coming weeks.

Ripple has emphasized transparency for its stablecoin, confirming that RLUSD will be fully backed by US dollar deposits, government bonds and cash equivalents.

Monthly reserve attestations conducted by independent auditors will verify its backing.

Ripple's CEO Brad Garlinghouse highlighted the regulatory focus behind RLUSD's launch.

"Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide," Garlinghouse said.

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Ripple plans to position RLUSD for a range of financial applications, including instant cross-border settlements, treasury operations, and integration with decentralized finance protocols.

The stablecoin will operate on both the XRP Ledger and Ethereum ETH/USD blockchain, providing scalability and accessibility across ecosystems.

Starting next year, Ripple Payments will incorporate RLUSD to facilitate global payments for enterprise clients.

Ripple Payments already processes $70 billion in payment volume across over 90 markets, representing more than 90% of daily foreign exchange markets.

The launch also comes alongside the addition of prominent names to Ripple's advisory board, including Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First VP and COO of the Federal Reserve Bank of Boston.

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