Compass Investments

$XRP

XRP continues to support Ripple even though RLUSD has already launched

- RLUSD Stablecoin expands Ripple's reach without displacing XRP: Ripple's new fiat RLUSD opens institutional doors while XRP retains its key role.

XRPL EVM Sidechain increases the utility of XRP: #XRP is now used as a gas for Ethereum-compatible smart contracts on XRPL, fueling the growth of the ecosystem.

crypto analyst at Jungle Inc. recently shared his insights on Ripple's new stablecoin, RLUSD, and its interaction with XRP. He emphasized that RLUSD does not replace XRP, but complements it by offering new opportunities for institutional clients, while XRP remains an important element of the ecosystem.

According to him, RLUSD is not a replacement for XRP. It is designed as a fiat bridge, allowing banks and companies to utilize the blockchain without being subject to the volatility of XRP's price. RLUSD already operates on the XRP Ledger and #Ethereum . It is regulated by the New York Department of Financial Services and has already been integrated by organizations such as Amina Bank and OpenPayd.

It's important to note that #Ripple continues to make headway in the financial system. It has applied for a federal banking charter, and Standard Custody, Ripple's RLUSD subsidiary, already has a master account with the Fed.

RLUSD currently has a total market value of $ 485 million and a 24-hour trading volume of $ 38.4 million.

One of the key events for XRP was the launch of the XRPL EVM sidechain. This will enable Ethereum-compatible smart contracts and dApps to run on the XRP Ledger.

The bottom line is this: this EVM chain uses XRP as a token for gas, similar to how Ethereum uses ETH.

  transscreen.ru/en/news23105