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– Ripple’s RLUSD stablecoin has outpaced competitors like PayPal’s PYUSD and Circle’s EURC in trading volume over 24 hours.

Ripple’s strategic management of its RLUSD offering has helped it maintain stability and prevent a significant drop in price.

Ripple’s stable coin token RLUSD [XRP] is rapidly gaining momentum, outperforming notable competitors like PayPal’s PYUSD and Circle’s EURC in terms of 24-hour trading volume.

Despite its relatively young age, RLUSD has seen impressive growth and has a strong market presence.

This achievement is even more remarkable given its small market capitalization compared to its competitors, highlighting the growing confidence in Ripple Labs’ innovation in stable coins.

According to CoinMarketCap, the market capitalization of Ripple’s stablecoin RLUSD was $53.1 million.

astonishingly, the 24-hour trading volume jumped 1,566% to $675.58 million.

This astounding growth is in line with PayPal’s PYUSD, which has a market capitalization of $491.72 million and a 24-hour trading volume of $19.74 million, as well as a market capitalization of $823.88 million and trading volume. This contrasts with competitors such as Circle’s EURC, which has a market capitalization of US$10.55 million and a turnover of US$10.55 million.

Noting this, analyst Arthur suggested that Ripple is strategically managing its RLUSD offering to avoid a potential drop in value.

cautious approach will allow RLUSD to prepare for greater demand and wider adoption in the future, ensuring its long-term success in the market.

Could RLUSD be the next big thing?

The reasons for RLUSD’s rapid growth are still unclear, but its current trajectory puts it in third place among the most traded stablecoins after Tether (USDT) and Circle’s USDC.

Indeed, Ripple CTO David Schwartz recently noted that RLUSD has already attracted significant interest, with bids as high as $1,200 per token.

However, while some of these bids may be speculative, Schwartz said that RLUSD tokens have a fixed price of $1. He assured the market that they can be redeemed when they are pegged at $1, and that any deviation will stabilize as liquidity increases after launch.

Nevertheless, the rapid growth of RLUSD – Ripple’s stable currency – is evident: it ranks 13th among all XRP Ledger assets in terms of market capitalization.

spite of this, XRP Ripple has fallen slightly by 4.19% over the past 24 hours, trading at $2.34, according to CoinMarketCap.

This means that while RLUSD continues to gain momentum, the impact on the price of XRP remains negligible amid broader market movements.