Analysts see this as a sign that Ripple is gaining ground in the stablecoin market, previously dominated by USDC and USDT. This development comes after a recent clarification from John Deaton.
Deaton stated that Ripple's stablecoin RLUSD is a more direct competitor to the stablecoin USDC than XRP. Furthermore, the operation of the RLUSD stablecoin eliminates any transparency issues by directly publishing its reserves and relationships with custodians.
