Ripple’s Ripple USD (RLUSD) has reached two significant milestones, making waves in the crypto space. The stablecoin is now part of the XRP Ledger’s Automated Market Maker (AMM) pools and continues to see growing adoption.
AMM Pool Goes Live
The XRP Ledger (XRPL) chain has rolled out a significant update allowing Ripple’s native stablecoin, Ripple USD (RLUSD), to participate in Automated Market Maker (AMM) pools on its decentralized exchange.
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The upgrade went live on January 30 after receiving 91.43% support from validators. It aims to increase liquidity for XRP and enhance trading opportunities.
Previously, RLUSD was excluded from AMM pools due to concerns over regulatory compliance and transactions involving restricted entities.
The new update, known as XLS-73d, addresses these issues by changing how specific tokens interact with AMM pools, making it possible for RLUSD to join and boost liquidity in the XRPL ecosystem.
$100 million Market Cap Milestone
Ripple USD (RLUSD) has just surpassed a $100 million market cap, with a circulating supply of $97.5 million and $6 million in excess reserves.
The milestone was reached in just over a month since RLUSD’s launch in mid-December 2024, following Ripple’s approval from the New York State Department of Financial Services (NYDFS) and underscoring growing demand for the stablecoin.
Jack McDonald, SVP of stablecoins at Ripple, highlighted the company’s commitment to maintaining high-quality reserves to support full redemptions.
RLUSD is available on major crypto trading platforms like Bitstamp, Bitso, and Bullish.
On the Flipside
- The stablecoin market saw significant growth in January, with its total market capitalization rising by 5.68% to reach a record $215 billion, coinciding with a period of market consolidation following President Donald Trump’s inauguration.
Why this Matters
With Ripple USD (RLUSD) joining the AMM pools, liquidity and trading opportunities on the XRP Ledger are set to expand, boosting the broader DeFi ecosystem. Additionally, the growing adoption of Ripple’s stablecoin underscores its increasing prominence in the market.
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