The XRP Ledger has overtaken Ethereum for the first time in Ripple USD stablecoin supply, reaching $801.8 million compared to Ethereum's $795.6 million. This shift, called the "flippening," was driven by stable demand on XRP Ledger and token burns on Ethereum. Ripple USD now ranks 8th among stablecoins globally with a $1.6 billion market cap. Despite Ethereum's initial lead due to its established infrastructure, XRP Ledger is becoming a key platform for institutional capital, supporting Ripple's multichain strategy and its expansion in Asia-Pacific markets like Japan.
XRP's price declined about 2% despite Ripple securing regulatory approval for its stablecoin RLUSD in Japan, a key market for expansion. The drop was influenced by the shutdown of Strobe Finance, a DeFi lending platform on the XRP Ledger, which raise...
Japan's Financial Services Agency has approved Ripple's RLUSD stablecoin as an electronic payment instrument, allowing trading on SBI VC Trade's platform for both retail and institutional investors. This marks a significant regulatory milestone in Ja...
XRP's price fell sharply to around $1.08, dipping below $1.05, following Bitcoin's drop below the $60,000 mark. This decline is not due to XRP-specific issues but rather its historical tendency to amplify Bitcoin's downward moves, losing nearly twice...
Ripple's XRP price fell more than 15% from its June 16 peak of around $1.29 to about $1.057 by June 24, pressured by profit-taking after Ripple's EU regulatory approval and weak Bitcoin performance. Technical analysis shows a descending wedge pattern...
Bitcoin and USD Coin experienced significant net outflows totaling around $760 million combined, while Tether (USDT) recorded notable inflows, indicating a rotation of liquidity rather than a full market exit. This shift reflects traders repositionin...
