Crypto
Ripple Labs' 15M RLUSD Mint Fuels Whale Activity in XRP Market
Ripple Labs' recent minting of 15 million RLUSD at the RLUSD Treasury has caught the attention of XRP traders, who are closely watching key support and resistance levels around $1.36 and $1.40 to $1.42.
A reported whale has also opened a $48 million XRP long position using 10x leverage, which some have interpreted as a bet on an impending price rally for the token.
The RLUSD minting does not necessarily indicate that funds were being moved into XRP, but it adds to the broader activity around Ripple and its stablecoin.