Ripple's Regulatory Approval for RLUSD Ripple has secured regulatory approval from New York for its RLUSD stablecoin, marking a major step towards its launch. This approval was announced on December 11, 2024, and comes at a time when interest in stablecoins is growing in the cryptocurrency landscape. Key Details of the Regulatory Nod Announcement Date: December 11, 2024 Stablecoin Name: RLUSD Regulatory Body: New York Department of Financial Services (NYDFS) Price Impact: Following the news, the price of XRP rose approximately 9%. Launch Plans: Ripple plans for RLUSD to go live shortly after securing this approval, aimed at enhancing liquidity and expanding its use cases. Implications for Ripple and XRP This regulatory nod is expected to bolster Ripple's market presence and enhance investor confidence in both Ripple and the XRP token. The success of XRP is closely linked to the performance of RLUSD; hence, the initial positive market reaction could sustain momentum as the stablecoin. Show Less