As Ripple’s RLUSD Goes Live on Multiple Global Exchanges, XRP Surges 5%
2024-12-18
Category: None

On Dec. 17, Ripple announced that the trading of its new dollar-backed stablecoin, Ripple USD (RLUSD), had gone live on multiple exchanges around the world:
The stablecoin launched on both the XRP Ledger and Ethereum blockchain, ensuring broad accessibility and interoperability.
In a press release issued on Monday, Ripple stated that although the launch of RLUSD would initially take place on Uphold, Bitso, MoonPay, Archax, and CoinMENA, we would be seeing RLUSD getting listed on other crypto trading platforms, such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash, in the next several weeks. It also said that each RLUSD token is backed by USD deposits, US Treasuries, and cash equivalents in order to make sure it is stable, reliable, and liquid.
On Dec. 14, Ripple CTO David Schwartz cautioned the community about potential supply shortages in RLUSD’s early days, which could lead to temporary price volatility. He reassured users that any short-term deviations would stabilize quickly, as arbitrage mechanisms bring RLUSD’s value back to its intended $1 peg. Schwartz emphasized that the stablecoin’s core purpose is to maintain price stability, warning against irrational speculative behavior.
RLUSD is built for financial applications, enabling institutions to settle cross-border payments, access liquidity for remittance and treasury operations, and integrate with decentralized finance protocols. It acts as a bridge between fiat currencies and the crypto ecosystem, simplifying transitions for entering or exiting digital assets. 
RLUSD can also be used to collateralize trading of tokenized real-world assets like commodities, securities, and treasuries onchain. Starting early next year, Ripple Payments will use RLUSD to process global payments for enterprise clients.
Already the launch of RLUSD is seeing coverage on business media outlets, such as Fox Business and NYSE TV:
At the time of writing, XRP is trading at around $2.61, up 5% in the past 24-hour period, and helping to strengthen’s XRP’s claim to being the third most valuable cryptocurrency.