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XRP has been on an impressive bull run since the U.S. election, recently soaring close to $3 before stabilizing at $2.51, marking a 4.52% increase after Ripple’s Después de una importante subida en noviembre, el precio cayó bruscamente en los últimos días. Sin embargo, las noticias positivas de ayer cambiaron esta Ripple’s native cryptocurrency, XRP, surged by over 9% on Tuesday, reclaiming the third spot in the cryptocurrency market rankings by market capitalization. The XRP, the native token of the XRP Ledger (XRPL), soared 10% on Tuesday following Ripple CEO Brad Garlinghouse’s announcement that the company’s U.S. dollar The Ripple stablecoin, expected later this year, will apparently be backed 1-to-1 by cash equivalents including U.S. dollar deposits, U.S. government bonds and other low XRP price jumped 10% after Ripple received NYDFS approval for its RLUSD stablecoin, pushing the token above $2.25 amid increased trading volume and positive The jump has completely erased the downside caused by the early week $1.6 billion liquidation event that crippled most notable altcoins, leaving XRP with just a 0.1%

Ripple Surges After Stablecoin Announcement: Can XRP Hit $1?

The cryptocurrency world is buzzing after Ripple's announcement of its upcoming stablecoin, RLUSD. This news has ignited a new wave of optimism around XRP, leading many to wonder: can XRP finally break the elusive $1 barrier?

XRP has been on an impressive bull run since the U.S. election, recently soaring close to $3 before stabilizing at $2.51, marking a 4.52% increase after Ripple’s Después de una importante subida en noviembre, el precio cayó bruscamente en los últimos días. Sin embargo, las noticias positivas de ayer cambiaron esta.

Stablecoin Announcement Fuels XRP Rally

Ripple CEO Brad Garlinghouse's announcement that the company's U.S. dollar The Ripple stablecoin, expected later this year, will apparently be backed 1-to-1 by cash equivalents including U.S. dollar deposits, U.S. government bonds and other low has been a major catalyst for XRP's recent price surge.

XRP price jumped 10% after Ripple received NYDFS approval for its RLUSD stablecoin, pushing the token above $2.25 amid increased trading volume and positive sentiment. Ripple’s native cryptocurrency, XRP, surged by over 9% on Tuesday, reclaiming the third spot in the cryptocurrency market rankings by market capitalization.

XRP Price Performance and Market Position

The XRP, the native token of the XRP Ledger (XRPL), soared 10% on Tuesday following Ripple CEO Brad Garlinghouse’s announcement. This surge highlights the growing confidence in XRP and its underlying technology.

The jump has completely erased the downside caused by the early week $1.6 billion liquidation event that crippled most notable altcoins, leaving XRP with just a 0.1% loss. This resilience further strengthens the bullish case for XRP.

Will XRP Reach $1?

The announcement of the stablecoin, coupled with XRP's recent price performance and increasing market capitalization, paints a promising picture. While predicting future price movements is inherently uncertain, the current momentum suggests that XRP has a strong possibility of reaching, and potentially surpassing, the $1 mark. Investors are closely watching market trends and developments within the Ripple ecosystem to gauge XRP's potential.

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