The Parallel USD Price & Performance (PRLUSD)

Ripple's RLUSD stablecoin has achieved a significant milestone with approval from the New York State Department of Financial Services (NYDFS). This regulatory clearance positions RLUSD as a compliant digital asset, paving the way for extensive listings on major cryptocurrency exchanges. Ripple's CEO highlighted the stablecoin's potential to challenge market leaders like USDC and Tether.12

Ripple's dollar-pegged stablecoin, RLUSD, has reached a supply milestone of $120 million within two months of its launch. While most of the supply remains on Ethereum, the XRP Ledger has seen significant growth, driven by lower fees and DeFi integration. This shift highlights RLUSD's increasing traction on Ripple's native blockchain.34

The XRP Ledger has experienced a notable increase in user activity, with accounts growing by 24% since January 2024. The adoption of Ripple's RLUSD stablecoin and reduced account reserve requirements have contributed to this growth. Trustlines have also surged, reflecting broader interest in the network's expanding ecosystem.52