Originally published on: December 15, 2024
Axelar, the canonical bridge connecting XRP Ledger to the XRPL EVM chain and 69 other blockchains, is gearing up for the launch of RLUSD stablecoin. According to Georgios Vlachos, co-founder of Axelar, this stablecoin is expected to fuel demand for XRP in 2025.
Stablecoins have gained popularity as a reliable method of transaction and a store of value, especially in emerging economies. With RLUSD transactions set to settle on the XRP Ledger (XRPL) and the XRP-EVM sidechain, the demand for XRP is projected to increase significantly.
XRP recently saw a surge, hitting a seven-year high of $2.90 in December 2024. Although the price has retraced since then, investor interest in XRP remains strong, driven by various factors such as political developments and ecosystem growth.
In light of recent events, including Donald Trump’s election victory and the filing of an XRP ETF by asset management firm WisdomTree, XRP’s market capitalization has been on the rise. It currently stands as the fourth-largest cryptocurrency by market cap, closing in on Tether’s position.
The approval of Ripple’s RLUSD stablecoin by the New York Department of Financial Services further solidifies XRP’s position in the market. Backed by fiat cash reserves and short-term cash equivalents, RLUSD will offer a stable and secure peg to the US dollar.
As the crypto landscape continues to evolve, the launch of RLUSD and the growing demand for XRP signal a promising future for Ripple and its ecosystem. Stay tuned for more updates and insights on the latest market trends and developments.
Disclaimer: This article does not provide investment advice. Readers are encouraged to conduct their own research before making any investment decisions.