{"id":94631,"date":"2024-09-24T11:37:03","date_gmt":"2024-09-24T15:37:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=94631"},"modified":"2024-09-24T11:39:43","modified_gmt":"2024-09-24T15:39:43","slug":"ripple-release-largest-rlusd-batch-on-eth-xrpl","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripple-release-largest-rlusd-batch-on-eth-xrpl\/","title":{"rendered":"Ripple Releases Largest RLUSD Batch on ETH, XRPL"},"content":{"rendered":"\n

Ripple issues a record 485 RLUSD stablecoins, increasing its supply for beta testing on Ethereum and the XRP Ledger<\/a>.<\/p>\n\n\n\n

\"Ripple<\/figure>\n\n\n\n

Ripple has taken a major step in the beta testing of its Ripple USD (RLUSD) stablecoin by issuing its largest batch of tokens to date. <\/p>\n\n\n\n

A total of 485 RLUSD were released at 12:28 AM UTC, bringing the stablecoin\u2019s total supply to 563.<\/p>\n\n\n\n

Ripple Issues Record 485 RLUSD in Latest Mint<\/h2>\n\n\n\n

According to data from XRPScan\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Ripple minted two large batches of its stablecoin, each consisting of 485 RLUSD. <\/p>\n\n\n\n

This latest issuance marks the most substantial release since the stablecoin project began in late August.<\/p>\n\n\n\n

The decision to significantly increase the token supply aligns with Ripple's ongoing efforts to enhance and scale testing for RLUSD across multiple blockchain environments. <\/p>\n\n\n\n

Following RLUSD\u2019s development, the community has shown strong interest in these token releases, viewing them as important milestones on the path to a full-scale launch. <\/p>\n\n\n\n

The increased supply will also help gather valuable user feedback, essential for improving the token\u2019s performance and stability.<\/p>\n\n\n\n

Strategic Testing Phase Improves Market Liquidity<\/h2>\n\n\n\n

Over the past 24 hours, a stablecoin tracker also reported that 100 RLUSD were burned in two separate batches, demonstrating a strategic approach to managing the circulating supply. <\/p>\n\n\n\n

The burning process permanently removes tokens from circulation, helping to control inflation and stabilize the token\u2019s value relative to the US dollar.<\/p>\n\n\n\n

Ripple\u2019s dual strategy of issuing and burning RLUSD plays a crucial role in testing the economic mechanisms that ensure the token's market viability. <\/p>\n\n\n\n

This approach helps maintain the stablecoin's dollar peg <\/a>while testing liquidity on both the XRPL and Ethereum platforms. <\/p>\n\n\n\n

However, these activities are vital for evaluating the stablecoin\u2019s real-world application and its effect on overall market liquidity.<\/p>\n\n\n\n

Ripple\u2019s Market Strategy Backed by Bitwise CIO<\/h2>\n\n\n\n

As Ripple moves toward the broader launch of RLUSD, prominent financial figures have commented on its potential impact. <\/p>\n\n\n\n

Matt Hougan, the Chief Investment Officer of Bitwise, recently expressed optimism about Ripple\u2019s outlook, especially with the expected resolution of the SEC lawsuit.<\/p>\n\n\n\n

Hougan also suggested that the regulatory clarity from the lawsuit\u2019s conclusion could pave the way for introducing a Spot XRP ETF, further strengthening market confidence. <\/p>\n\n\n\n

He believes that the launch of such financial products could trigger a significant rise in XRP\u2019s price.<\/p>\n\n\n\n

As of this writing, XRP\u2019s price<\/use><\/svg><\/span><\/a> is $0.588, reflecting a slight 0.49% increase over the last 24 hours, with a trading volume of $916 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple issues a record 485 RLUSD stablecoins, increasing its supply for beta testing on Ethereum and the XRP Ledger. Ripple has taken a major step in the beta testing of its Ripple USD (RLUSD) stablecoin by issuing its largest batch of tokens to date. A total of 485 RLUSD were released at 12:28 AM UTC, […]<\/p>\n","protected":false},"author":56,"featured_media":94635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[22017,142,1531],"class_list":["post-94631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ethereum-xrp-ledger","tag-ripple","tag-stablecoin"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/Ripple-Releases-Largest-RLUSD-Batch-on-ETH-XRPL.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/94631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=94631"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/94631\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/94635"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=94631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=94631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=94631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}