Ripple Partners with Revolut and Zero Hash to Boost RLUSD Adoption
Ripple Labs has formed strategic partnerships with Revolut and Zero Hash to promote its new fiat-backed stablecoin, Ripple USD (RLUSD). These collaborations aim to facilitate the stablecoin's trading across various markets.
- RLUSD is now accessible on XRPL and Ethereum networks for Revolut and Zero Hash customers.
- Zero Hash enables seamless integration of RLUSD for its partners through API and SDK.
- RLUSD has a fully diluted valuation exceeding $108 million and a 24-hour trading volume of approximately $207 million.
- Tether (USDT) and Circle's (USDC) dominate the USD stablecoin market, controlling 90% share.
- Revolut serves over 50 million customers globally, enhancing RLUSD’s user acquisition potential.
Impact on XRP Price
The integration of RLUSD is expected to increase demand for XRP due to higher on-chain activity. XRP has shown a positive correlation with Bitcoin, suggesting that if Bitcoin’s price rises, XRP may also experience upward movement towards the 2025 bull market.
XRP currently has a fully diluted valuation around $242 billion and a 24-hour trading volume of about $8.2 billion, recently forming a bullish flag pattern.