AI Summary
- XRP Ledger growth has slowed after the launch of Ripple’s USD (RLUSD) stablecoin and a multi-month surge in XRP’s price and ecosystem.
- Ripple USD (RLUSD) has launched on a few smaller exchanges who are willing to take a bet on Ripple’s innovative approach to cross-border payments and enterprise bridge building.
- Despite Ripple’s recent successes, interest and activity in XRP Ledger has slowed in December, following RLUSD’s launch.
- Since the launch of Ripple’s RLUSD on December 17th, the token went through high volatility as demand for the token surged to a point that it was affected it’s USD peg, causing the token to fall below $1.00 or go way above it.
XRP Ledger growth has slowed after the launch of Ripple’s USD (RLUSD) stablecoin and a multi-month surge in XRP’s price and ecosystem.
Ripple USD (RLUSD) has launched on a few smaller exchanges who are willing to take a bet on Ripple’s innovative approach to cross-border payments and enterprise bridge building.
Despite Ripple’s recent successes, interest and activity in XRP Ledger has slowed in December, following RLUSD’s launch.
XRP Ledger growth stifled after Bitcoin volatility
Over the last 7 days, Ripple’s native XRP token has fallen 8% due to Bitcoin’s recent volatility that has affected the whole market, usual for holiday seasons.
Looking on-chain at XRP Ledger, the network has suffered from no new wallets being created after reaching it’s peak of 2024 with 30,614 wallets being created on December 2nd.
Since then, new wallet creations have fallen dramatically to 1,770 new wallets as of December 23rd, 2024, the lowest since October 2024.
The number of successful transactions has also taken a hit with 716,868 successful transactions on December 23 out of 3.8 million at the beginning of December.
XRP Ledger’s TVL (total value locked) has also taken a small hit falling to $57.56 million form its all-time high of $71.46 million in mid-December.
RLUSD and exchanges
Since the launch of Ripple’s RLUSD on December 17th, the token went through high volatility as demand for the token surged to a point that it was affected it’s USD peg, causing the token to fall below $1.00 or go way above it.
Since releasing, RLUSD has reached a stable $1.00 price peg and has been listed on reputable exchanges, albeit smaller exchanges when compared to Coinbase, Binance and KuCoin.
At the moment, RLUSD is only available CoinMENA, Bitso, Uphold, MoonPay, and Archax with new exchanges on the way within similar userbase pools.
Rumours suggest that RLUSD has not been listed on major exchanges due to the dominance of Circle’s USDC which is also in a strategic partnership with Binance.
With RLUSD out in the wild, RIpple is making it a priority to onboard decentralized projects and make strong connections with enterprises to bring use cases to the XRP Ledger.
