RLUSD, the stablecoin of Ripple, has seen a trading volume of $35.073 million, marking a 180% rise within the last 24 hours.

This increase can be mainly blamed on the challenges experienced by Tether USDT in complying with the European Union’s MiCA regulatory requirements.

Amidst the challenges faced by Tether (USDT) in adhering to the European Union's Markets in Crypto Assets (MiCA) regulatory requirements, Ripple's stablecoin, RLUSD, has seen a surge in trading volume of 180% within the last 24 hours, reaching $35.073 million. This increase is largely attributed to the doubt surrounding USDT as the time to meet compliance requirements comes to an end.

This surge in RLUSD trading volume has pushed its market cap to $53 million. The most actively traded pair was RLUSD/USDC with trading volume of $21,000,000, followed by the ETH/RLUSD pairing, trading at $7.01 million. These numbers indicate an increased usage of the stablecoin as a compliant and stable means of payment for both institutional and retail clients.

Moreover, Ripple has been integrating RLUSD within its ecosystem and On-Demand Liquidity (ODL), which is a key factor in the asset's fast adoption in the market. With its 1:1 peg to the US Dollar, RLUSD offers a safer investment option for those looking to avoid drastic shifts in the market.

Several trading platforms, such as the Bullish Exchange, have reported high volumes in RLUSD trading pairs, reflecting growing institutional interest. These developments explain why the market has been calling for RLUSD to meet these evolving needs effectively.

However, despite the implementation of RLUSD showcasing incredible value, XRP took a 4.5% hit in the last 24 hours and traded at $2.08. This decline is linked to market trends, while trading volume of XRP rose by 88% to $4.58 billion. Some critics argue that as the correlation between RLUSD and XRP deepens, this will boost the use of XRP.

These fluctuations, shown by the $2.05 to $2.196 daily trading range, highlight active trading. Analysts remain optimistic about XRP price trajectory, with forecasts suggesting a rally to $6 in the coming months.

However, crypto analysts continue to emphasize XRP's undervaluation despite its recent rally. Predictions range from targets of $8.40 to an ambitious $48 by 2025. Ripple's large escrow holdings, containing approximately 40 billion XRP valued at $83 billion at current prices, play a crucial role in this valuation narrative.

The increasing demand for RLUSD and Ripple's continued diversification into stablecoins as well as custody solutions for XRP also support the prospect of long-term XRP appreciation. Over time, analysts expect more investors’ confidence in both RLUSD and XRP will be influenced by the changes in regulatory policies.

Demand For RLUSD and XRP fiyatı

Finally, analyst EGRAG Crypto adds to the bullish outlook as XRP has the potential to repeat history. Similar to a prediction made before the 2017 rally, EGRAG believes that the cryptocurrency could increase by 4,770% in this market cycle and reach $27.

The key is breaking above $2.65, which would indicate the beginning of a sustained bull run. This technical level marks the point where investor confidence starts accelerating the price movement.

However, a glance at XRP price shows that it has held well above key support levels, indicating that there is still bullish strength in the market to spur a significant rally. Analysts highlight the consolidation above $2 as crucial for sustaining the upward momentum.