News View Non-AMP

Ripple Mints 13M RLUSD Stablecoin After NYDFS Approval

Published by
Mustafa Mulla

Ripple Labs has taken a major step forward with its RLUSD stablecoin, receiving approval from the New York Department of Financial Services (NYDFS). The company recently minted over 13 million RLUSD tokens on both the XRP Ledger and Ethereum Network, marking an important phase in its mainnet testing.

But what does this mean for Ripple’s future and the crypto market as a whole?

RLUSD Minting: XRP Ledger vs. Ethereum Network

Ripple’s recent minting activity included 2.6 million RLUSD tokens on the XRP Ledger, plus smaller batches of 100,000, 160,000, and 640,000 RLUSD tokens. The XRP Ledger demonstrated its efficiency, with minting costs totaling just 0.00048 XRP.

On the Ethereum Network, Ripple minted 10.4 million RLUSD tokens, along with another 640,000. The cost of the largest batch was 0.00161 ETH, or about $6.31. These tests show the scalability and cost-effectiveness of both networks.

Ripple has been carefully testing RLUSD through processes like minting, burning, and transferring tokens to ensure it’s ready for real-world use. As RLUSD enters the competitive stablecoin market, it will face established players like Tether’s USDT and Circle’s USDC.

However, Ripple’s strong regulatory compliance could give RLUSD an edge, making it a reliable asset for financial institutions.

Meanwhile, CEO Brad Garlinghouse assured community users, “When RLUSD is live, you’ll hear it from Ripple first.”

XRP Price Update

The announcement of RLUSD’s progress led to a 13% surge in XRP, Ripple’s native token, which reached $2.46. Analysts are closely watching key resistance levels, with XRP potentially targeting $2.80 and even $3 if it breaks the $2.50 resistance.

The next 48 hours are critical, as XRP approaches a key resistance point within a descending channel.

As Ripple moves closer to RLUSD’s full release, the crypto world waits to see how this new player will shake up the market.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

XRP, PEPE Rebound Underway, But Cardano and This DeFi Token Look Stronger

The crypto market pulses with activity as XRP tests key resistance levels, PEPE hints at…

May 10, 2025

Analysts Eye $0.025 MUTM as the Next Crypto to Explode — Is This the Best Crypto to Buy Now?

As investors scan the market for their next big move, one token is beginning to…

May 10, 2025

Shiba Inu (SHIB) Surges by 18% in a Week, But Analysts Are Bullish On Ruvi AI (RUVI) To Reach $2.00 and Turn $500 into $140,000

Shiba Inu (SHIB), the wildly popular meme coin, has once again made a splash in…

May 10, 2025

Pepe Jumps 40% This Week: Will Pepe or Pepeto Be the Next 100x Memecoin in This Bull Run?

Over the past week, Pepe Coin (PEPE) has seen a sharp rise of around 42%,…

May 10, 2025

Top Altcoins to Watch Next Week: dogwifhat, Pepe, and BNB Poised for Potential Breakouts

Over the past week, a handful of altcoins broke away from the market consolidation, delivering…

May 10, 2025

Altcoins Season Incoming — Here’s Why Top Crypto Experts Belives It

After a long, painful stretch for altcoins, the market is finally showing signs of recovery.…

May 10, 2025