Ripple Labs advances testing of RLUSD stablecoin

Ripple Labs has ramped up its testing of the RLUSD (CRYPTO:RLUSD) stablecoin as part of its strategy to enhance its market position. 

Recent activities include significant tests involving minting and transfer operations conducted on the XRP Ledger protocol. 

These developments mark the first major report of the month for those tracking RLUSD's progress.

The latest minting operation recorded on the XRP Ledger Index 146 resulted in the creation of 9,999,700 RLUSD tokens, demonstrating Ripple's (CRYPTO:XRP) commitment to this stablecoin initiative.

In addition to operations on the XRP Ledger, data indicates that a total of 39,999,523 RLUSD tokens were minted on the Ethereum blockchain at Block 21316829. 

XRPScan data confirms that these operations were executed for payment purposes, with tokens transferred between Treasury accounts to test system functionality.

The advancements surrounding RLUSD have had a favorable impact on XRP's market performance, with the asset experiencing a notable increase in value. 

In the last 24 hours, XRP surged by 30.55%, rising from $2.094 to $2.849 before settling around $2.758.

Ripple aims to enhance liquidity within the digital asset ecosystem by integrating XRP with the RLUSD stablecoin, which could strengthen XRP's long-term market position.

Experts suggest that positive changes in the U.S. regulatory landscape may further support Ripple's projects. 

Potential innovations, such as the approval of an XRP ETF, could positively influence XRP's market valuation.

Ripple's ongoing efforts to secure necessary approvals from New York are seen as vital for its expansion plans within the U.S. market.