🌊 XRP Rides the Wave — Stablecoin Growth Adds Fuel to the Fire

Bullish momentum returns to XRP, reaching $3.66 record high.

The XRP Ledger stablecoin market value rose 46% to $166 million last week.

Ripple's RLUSD is supported by Mesh.
On Wednesday, Ripple (XRP) trades about $3.24 after two days of increases.

The futures market this week may indicate speculative demand for XRP, which might prolong price recovery to the July 18 record high of $3.66.

Wednesday futures market Open Interest (OI) averaged $8 billion, up 9% according to CoinGlass. A 20% volume rise to $12.5 million shows increased trading.

LedgerXRP Stablecoin market rises, Mesh supports RLUSD
In the previous week, DefiLlama reports a 46% increase in the XRP Ledger (XRPL) stablecoin market value to $166 million. Over 52% of the protocol's stablecoins are Ripple USD (RLUSD).

The total value locked (TVL), which is the value of all currencies held in smart contracts connected to all XRPL protocols, rose 4% to $89 million in 24 hours. This tendency will increase XRP interest, strengthening its tailwind.


Mesh, a payment network with over 50 tokens, now supports RLUSD. Merchants may now accept USD-pegged stablecoins, while customers can pay using RLUSD.

Mesh now supports RLUSD, so users may deposit, transfer, and pay with the stablecoin, and merchants can take it at checkout. RLUSD is completely backed 1:1 to the U.S. dollar, so consumers and merchants can trust it for steady, non-volatile payments, Mesh said in a blog post.

XRP is stabilizing at its weekly high as cryptocurrency bulls gain ground. XRP is stable around $3.26 ahead of a breach over the short-term obstacle of $3.40, tested on Friday, and the record high of $3.66.

RSI stays above the midline, supporting XRP's bullish bias. In quest of liquidity, XRP fell near $3.00 and the 50-day Exponential Moving Average at $2.91.

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