XRP Price Soars 2% as Dubai Stablecoin Approval Fuels Momentum

The XRP price has experienced a notable surge, reaching new heights exceeding $2.23 after falling over the past week. This rise can be attributed to several factors including approval of Ripple’s RLUSD stablecoin in Dubai and increasing market optimism around an eventual SEC settlement. 24-hour trading volume is currently at $2.4 billion. Analysts attribute this surge to the recent regulatory approvals, particularly for Ripple’s enterprise-grade stablecoin, RLUSD. The stablecoin has been approved for use in Dubai’s International Financial Centre (DIFC) and New York, signifying a significant step towards real-world adoption of XRP.