Ripple’s USD-pegged stablecoin RLUSD has recorded a 127% surge in trading volume, exceeding $2.41 billion, signaling strengthened investor confidence in the XRP Ledger ecosystem. This momentum coincides with a substantial price appreciation for XRP, which rose over 31% in the past week to trade at $3.47 – near its 2018 all-time high of $3.84.
Market analysts highlight that increased RLUSD transaction activity may inadvertently reduce XRP’s circulating supply through the network’s fee-burning mechanism. This supply constraint could create additional upward pressure on XRP’s valuation as more fees are destroyed with growing stablecoin usage.
Technical analyst DonAlt identified $6.90 as a potential bullish target for XRP, contingent on sustained market momentum and ongoing developments within Ripple’s expanding ecosystem. The simultaneous growth in RLUSD volume and XRP price underscores deepening liquidity and adoption across Ripple’s blockchain infrastructure.