Ripple Officially Adopts Chainlink Price Feeds to Accelerate the Adoption of RLUSD Stablecoin

As the leading oracle in decentralized finance (DeFi), Chainlink enables seamless integration with prominent dApps such as @aave.

Ripple (XRP) Posts Stellar Gain, But Internal Dynamics Under Scrutiny

output: Ripple (XRP) Posts Stellar Gain, But Internal Dynamics Under Scrutiny As XRP Surges

After a tumultuous year that saw XRP’s price plummet by over 90%, the cryptocurrency has finally begun to show signs of recovery. In the past week alone, XRP has surged by more than 25%, buoyed by a listing on Aave, the leading decentralized lending platform.

This move is a significant victory for Ripple, which has been striving to gain wider acceptance and utility for XRP. With Aave boasting a total value locked (TVL) of over $5 billion, the listing is bound to boost XRP’s liquidity and trading volume.

However, Ripple's internal activities and the authenticity of RLUSD's growth trajectory are under close examination. Despite being ranked fourth in terms of trading volume, with an impressive $611 million, RLUSD's low liquidity and high concentration on the Bullish exchange are raising eyebrows.

With most of RLUSD's trading activity (96%) concentrated in a single trading pair on the Bullish exchange and low liquidity, questions arise about the authenticity of RLUSD's growth narrative. Despite ranking fourth among stablecoins by volume, with an impressive $611 million, its market cap stands at a mere $53 million.

This uneven distribution of trading volume, coupled with the relatively small market capitalization of RLUSD (around $53 million), has sparked議論 among crypto enthusiasts and traders alike. Some have questioned whether this rapid growth in RLUSD's trading volume is being driven by organic demand or by other factors, such as internal trading practices at Ripple.

To put this into perspective, the last time a bullish technical indicator appeared on the 12-hour chart, XRP went on to experience a staggering 470% rally. As this indicator has now signaled bullish once again, traders are keeping a close eye on XRP for another potential price surge.

According to the latest data, RLUSD's trading volume reached an astonishing $611 million on Monday. This performance placed the stablecoin in the fourth position among stablecoins by volume.

This news comes as Ripple continues to ramp up its efforts to integrate XRP into the broader decentralized finance (DeFi) ecosystem. Earlier this year, Ripple announced that several dApps powered by Chainlink Price Feeds would be listing RLUSD in their lending markets. This move is intended to bolster the stablecoin’s liquidity and facilitate seamless integration with prominent platforms.

As part of this initiative, Aave has now listed RLUSD in its lending markets, utilizing the RLUSD/USD price feed to enhance the reliability and transparency of XRP’s integration into the DeFi space.

Meanwhile, XRP is also displaying bullish technical momentum on the 12-hour chart, with the SuperTrend indicator recently flipping bullish. This pattern was last seen before XRP experienced a 470% rally.

This development marks a significant step toward mainstream adoption for Ripple, as its stablecoin, RLUSD, now boasts over $611 million in trading volume. However, questions remain regarding the sustainability and authenticity of this growth trajectory.

With this recent development, XRP is now displaying bullish technical momentum on the 12-hour chart. Notably, the last time a bullish technical indicator appeared on this time frame, XRP went on to experience a staggering 470% rally. As this indicator has signaled bullish once again, traders are keeping a close eye on XRP for another potential price surge.

This news comes amid reports that Ripple minted 600,000 new tokens and released an attestation report, highlighting RLUSD's expanding footprint in the market. These updates are expected to provide further insight into the stablecoin's growth trajectory.

Conclusion As XRP Posts Stellar Gain, Internal Dynamics Come Under Scrutiny After a tumultuous year that saw XRP’s price plummet by more than 90%, the cryptocurrency has finally begun to show signs of recovery. In the past week alone, XRP has surged by more than 25%, buoyed by a listing on Aave, the leading decentralized lending platform. This move is a significant victory for Ripple, which has been striving to gain wider acceptance and utility for XRP. With Aave boasting a total value locked (TVL) of over $5 billion, the listing is bound to boost XRP’s liquidity and trading volume.

However, Ripple's internal activities and the authenticity of RLUSD's growth trajectory are under close examination. Despite being ranked fourth in terms of trading volume, with an impressive $611 million, RLUSD's low liquidity and high concentration on the Bullish exchange are raising eyebrows.

After a stellar performance in 2024, XRP is continuing its strong start to the new year with a recent price surge. This rally comes as several dApps powered by Chainlink Price Feeds are now listing RLUSD in