Ripple’s RLUSD Stablecoin Joins the Top 100 Cryptocurrencies, Gaining Momentum

• RLUSD enters top 100 cryptocurrencies, showing rapid growth and adoption.
• Gemini expands Ripple partnership, integrating RLUSD into U.S. platform.
• XRP Rewards card offers cashback, boosting Ripple’s ecosystem expansion.

Ripple’s stablecoin, RLUSD, has made its debut in the top 100 cryptocurrencies with a market capitalization of $687.7 million. With 687.95 million tokens in circulation, RLUSD has managed to maintain its $1 peg, demonstrating its stability in the ever-changing world of digital assets.

Such a quick rise demonstrates RLUSD’s rising popularity and potential as a significant participant in the Ripple ecosystem.

As per CoinMarketCap data RLUSD has already enjoyed a huge trading volume of over 95 million in the last 24 hours. This volume places it in competition with mid-tier altcoins that have been around for years, showing that the stablecoin is growing at an impressive pace.

RLUSD has already been deployed on significant centralized trading platforms, including Bitstamp, Kraken, and Bullish, as well as decentralized platforms, including Curve and Uniswap. The largest trading pairs for RLUSD are against XRP and USDC, which record millions of dollars in daily trading volumes, and other smaller amounts against other cryptocurrencies, such as BTC, ETH, and SOL.

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Ripple’s Expanding Ecosystem Drives RLUSD’s Growth

The swift rise of RLUSD can be attributed to Ripple’s expanding ecosystem and its efforts to position RLUSD as a key settlement token. RLUSD is currently ranked just after PayPal’s PYUSD, with a market cap of $1.15 billion, and above minor stablecoins such as FDUSD and World Liberty USD.

Even though USDT is the most popular stablecoin, with a market cap of $167.1 billion, RLUSD is rising in the stablecoin sector at a fast pace.

Gemini’s Expansion of Ripple Partnership Boosts RLUSD Adoption

Gemini, a leading U.S. crypto exchange, is strengthening its partnership with Ripple. The exchange recently launched an XRP Rewards credit card, offering cashback in XRP for U.S. customers.

The card includes 4% cashback on fuel, EV charging, and ridesharing, along with 3% on dining and 2% on groceries. Gemini is also establishing RLUSD as a base currency in all spot trading pairs, so transactions can be made more easily without the need for conversion steps.

Such strategic action is taking place against the backdrop of Gemini’s planning an IPO in the future, and Ripple’s $75 million credit facility offered to the exchange further supports its expansion plans. The trend of using RLUSD more and the collaboration with Gemini further cement Ripple’s growing presence in the crypto space.

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