Ripple’s RLUSD surges to $607 mln in trading volume – What’s next? – BitRss

• Ripple’s RLUSD stablecoin outperformed competitors like PayPal’s PYUSD and Circle’s EURC in 24-hour trading volume.
• Ripple strategically manages RLUSD supply to maintain stability and prevent significant price drops.

Ripple [XRP]’s stablecoin RLUSD is rapidly gaining traction, outperforming established rivals like PayPal’s PYUSD and Circle’s EURC tokens in 24-hour trading volume.

Despite its relatively young age, RLUSD has demonstrated impressive growth, signaling a strong market presence.

This achievement is even more remarkable given its smaller market capitalization compared to its competitors, highlighting the growing confidence in Ripple Labs’ stablecoin innovation.

Key areas in which Ripple stablecoin succeeded

According to CoinMarketCap, Ripple’s stablecoin RLUSD boasted a self-reported market cap of $53.1 million.

In a surprising surge, its 24-hour trading volume skyrocketed by 1,566% to $607.58 million.

This remarkable growth contrasts sharply with competitors like PayPal’s PYUSD, which has a market cap of $491.72 million and a 24-hour volume of $19.74 million, as well…