Why is Ripple XRP price up today?
XRP price has spiked 13% in the past 24 hours as the crypto market continues to go through the bullish phase. Besides, the much hyped launch of RLUSD stablecoin is also considered a key factor in pushing the XRP price to new highs.
According to Coinmarketcap data, XRP has jumped over 13% to $2.71 on December 17 with a trading volume of staggering $16 billion.
Ripple (XRP) Price – Coinmarketcap
Over the past few weeks, RLUSD stablecoin is in trend with Ripple announcing launch to widen its presence in the broader crypto market.
Once launched, RLUSD could be positioned as one of the most popular stablecoin in the crypto space. The current stablecoin market sits at $203.52 billion with Tether USDT being dominant, as per market data DeFillama.
XRP price started to accelerate after chair Gary Gensler announced to leave the SEC in November. The price of XRP has surged over 200% since then.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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