Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

RLUSD Stablecoin Goes Live: Price Fluctuates 20% Before Stabilizing

The post RLUSD Stablecoin Goes Live: Price Fluctuates 20% Before Stabilizing appeared first on Coinpedia Fintech News Ripple USD (RLUSD) is officially live on global exchanges. This enterprise-grade stablecoin combines the stability of fiat with the efficiency of blockchain technology. RLUSD will operate on two networks: Ethereum and Ripple’s native XRP Ledger (XRPL). Initially, the price of the stablecoin fluctuated within a 20% range, but it is pegged to the U.S. dollar at a 1:1 ratio, ensuring stability over time. Ripple CTO David Schwartz had previously said that there might be supply shortages at first, causing the price to fluctuate. However, once supply stabilizes, the price will quickly return to around $1. He also said, “Since the idea of $RLUSD many months ago to launch in a matter of hours, I’ve been looking forward to more use cases realized on the XRPL and more liquidity on-chain with a trusted stablecoin like RLUSD. Countless opportunities are here for devs and users who want the benefits of XRPL, RLUSD and XRP.” The stablecoin will be available on exchanges like Uphold, Bitso, and CoinMana, with more expected by the end of the year. Ripple’s stablecoin is fully compliant and backed by US dollar deposits, government bonds, and cash equivalents. This provides the stability and transparency that many stablecoins have lacked. Ripple USD (RLUSD) is now live on global exchanges. An enterprise-grade stablecoin built for everyone, $RLUSD combines fiat stability with blockchain efficiency: Instant global payments, 24/7 Seamless on/off ramps Access value in real-world assets.… pic.twitter.com/lJ43GdoDGR — Ripple (@Ripple) December 17, 2024 RLUSD aims to bridge the gap between traditional fiat and crypto, offering benefits like instant cross-border payments, liquidity for remittance, and seamless integration with DeFi protocols. This is huge for XRP and the broader crypto ecosystem. Ripple’s stablecoin will be a game-changer. It’s backed by years of experience in the financial system and offers a level of compliance and trust that’s currently unmatched. With major partners and exchanges expected to adopt it, RLUSD has the potential to challenge dominant stablecoins like Tether and USDC. Bitcoin World

---

Bitcoin Price Analysis: BTC Maintaining $100K Suggests Going After $110K and $120K Next

Bitcoin has been trading above $100K over the past couple of days and is currently climbing toward the $110K mark. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset has been making higher highs and lows over the past few weeks, even after the uptrend slowed following the breakout above the $90K level. Meanwhile, the market failed to break above the $100K level on the first few attempts but finally succeeded a few days ago. At the moment, the $110K and $120K levels are likely targets for Bitcoin, as the $100K level has now turned into a support zone. The 4-Hour Chart The 4-hour chart, however, shows a worrying signal. The market has yet to break above the ascending channel, which can be a reversal pattern if broken to the downside. The price is currently testing the higher boundary, and in case of a bearish rejection, the $100K support level will be the first likely destination. Yet, an aggressive surge toward higher prices could be expected if the market can break the pattern to the upside. On-Chain Analysis By Edris Derakhshi (TradingRage) Exchange Reserve While Bitcoin’s price has been rallying over the past few weeks, making new all-time highs, investors have also been accumulating significantly. This in itself could be a primary reason behind the recent uptrend. The exchange reserve metric, which measures the amount of BTC held in exchange wallets, is demonstrated in this chart. It is quite a helpful metric, and many analysts use it as a proxy for supply. As the chart depicts, the exchange reserve metric has been dropping rapidly over the recent weeks, indicating a considerable decrease in supply. If this trend continues, Bitcoin will likely see higher prices in the coming months, as the supply and demand equation is clearly in favor of a price increase. The post Bitcoin Price Analysis: BTC Maintaining $100K Suggests Going After $110K and $120K Next appeared first on CryptoPotato . Bitcoin World