Ripple USD Volume Soars 41% After Kraken Listing

The volume of Ripple USD (RLUSD), a stablecoin launched by Ripple, has experienced a dramatic surge following its listing on the prominent cryptocurrency exchange Kraken. According to CoinMarketCap data, RLUSD’s trading volume rose by a significant 41% within the past 24 hours, reaching over $80 million. This impressive increase is notable considering that the stablecoin’s market capitalization remains relatively modest at just under $300 million. The high volume-to-market-cap ratio of 27% suggests heightened activity surrounding RLUSD, potentially driven by its recent listing on Kraken and another significant event related to Ripple.