XRP has experienced a massive 400% increase since November, climbing to a yearly high of $2.90 by December 3rd. This surge comes as Ripple gears up for the introduction of its new stablecoin, RLUSD, on December 18th. The stablecoin will leverage both the XRP ledger and Ethereum blockchain.
Initially, RLUSD will be available on a select number of exchanges, including Uphold, MoonPay, and Bitso. There are also plans to expand its availability to Bitstamp and Zerohash in the future.
Technical analysis highlights that XRP's price recently broke major resistance levels, contributing to its meteoric rise and the anticipation surrounding the RLUSD launch.
