XRP Price Rises After Ripple Launches New Stablecoin Token

XRP XRPUSD +6.73% , the digital token used on the payment platform Ripple

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Ripple launched the new stablecoin RLUSD, which could strengthen its role as a central player in the cryptocurrency industry

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XRP is up 7.2% over the last 24 hours to last trade at $2.57, according to CoinDesk data

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Each RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents—designed to ensure its stability, reliability, and liquidity

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The coin will be available on global exchanges Tuesday, Dec. 17, the company said, initially on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with additional listings on platforms

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Cryptocurrencies prices have been helped by expectations that the incoming Trump administration will be significantly more crypto-friendly.

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such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash.

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