Ripple Moves 294K RLUSD Stablecoins, What’s Happening?

Quick Summary:

Ripple’s RLUSD stablecoin, pegged to the U.S.dollar, has been involved in a series of substantial on-chain transfers ahead of its anticipated launch.

Blockchain data showed that Ripple’s Treasury moved a total of 294,000 RLUSD tokens across multiple transactions.

The purpose of this significant XRP transfer remains unconfirmed, though some analysts believe it may relate to Ripple’s On-Demand Liquidity (ODL) service, which supports cross-border payments using XRP.

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Article Details

Author / Journalist: Ronny Mugendi

Category: Crypto

Markets: India

Topics: XRP price RLUSD Stablecoin Ripple (XRP) 24/7 Cryptocurrency News Stablecoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 00:36:17 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 403 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 12 words per sentence (average)

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Copyright Owner: © CoinGape

News ID: 23466153

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