92% of RLUSD swaps on the XRP Ledger this year ran straight against XRP.
Evernorth's report: about $1.65B in Ripple USD was swapped, and roughly 92% of it traded directly versus $XRP , not another asset.
My take: that makes XRP the working bridge asset for the stablecoin, so RLUSD growth could mean more real use for XRP. The catch is price. XRP is still near $1.15 and down about 5% on the week.
Does stablecoin volume lift XRP, or does price ignore it? Pick one and say why.
Not financial advice.
$RLUSD #XRP #Ripple #Stablecoins
Evernorth's report: about $1.65B in Ripple USD was swapped, and roughly 92% of it traded directly versus $XRP , not another asset.
My take: that makes XRP the working bridge asset for the stablecoin, so RLUSD growth could mean more real use for XRP. The catch is price. XRP is still near $1.15 and down about 5% on the week.
Does stablecoin volume lift XRP, or does price ignore it? Pick one and say why.
Not financial advice.
$RLUSD #XRP #Ripple #Stablecoins