XRP News: Kraken Adds RLUSD, XRP Price Holds Above Crucial Support

XRP Price Hangs on a Thread as Kraken Adds RLUSD

The XRP price was trading above a crucial support level on Wednesday after Kraken, a top American crypto exchange, added Ripple USD (RLUSD), its stablecoin. Ripple (XRP) was trading at $2.10, down over 37% from its highest level this year, with a market cap of $126 billion, making it the fourth-largest cryptocurrency. RLUSD has been growing steadily since its launch a few months ago, with a market cap of $243 million and a 24-hour volume consistently topping $70 million, indicating active use in payments and trading.

XRP Price Prediction: Goldman Sachs’ Fed Warning & $3.84 Forecast

Goldman Sachs has warned about upcoming Federal Reserve rate cuts, while analysts predict a potential XRP surge to $3.84. The banking giant expects CORE inflation to rise to 3.5%, anticipating three Fed rate cuts which could stir XRP volatility. Experts weigh in on Ripple’s next move amid macroeconomic headwinds.

Ripple’s XRP Price Drops as Whales Flee to Crypto Exchanges

XRP traders are facing continued woes as expectations for a short-term rebound fail to materialize. Over the weekend, trading triggered a new wave of outflows with the futures market weakening sentiment. In the last 48 hours, several large holders sold the asset, leading to a 5% price drop. According to Coinglass data, the XRP liquidation imbalance in the futures market stood at 1,178%, with $229 million worth of assets liquidated in 24 hours. At the time of writing, XRP trades at $2.16 with its market cap down to $126 billion.

Ripple’s RLUSD Debuts On Kraken, Boosted by Cross-Border Payments Platform Integration

San Francisco-based blockchain firm Ripple has announced the launch of its U.S. dollar-pegged stablecoin, RLUSD, on Kraken, a well-established American digital asset exchange. The stablecoin has also been integrated into Ripple’s cross-border payments system. Kraken joins a list of platforms supporting RLUSD, including LMAX Digital, Zero Hash, Bitstamp, and Bullish. Ripple plans to work with international entities to boost RLUSD’s reach and accessibility.