Ripple Labs Mints 20M RLUSD as XRP Price Surges Past $1.40

Ripple Labs has minted 20 million RLUSD on Ethereum, according to the Ripple Stablecoin Tracker. This development comes as XRP's price rebounded from around $1.00 to $1.40 after a bullish divergence signal.

The RLUSD mint adds another notable point of interest to XRP news, although the information shared does not state what the newly minted tokens will be used for. Market activity around XRP has picked up quickly, with heavy buying and liquidations contributing to the sharp price rise.

EGRAG Crypto pointed to a bullish divergence that had been forming on the XRP chart before the recent move. The setup showed price moving lower while the Relative Strength Index (RSI) was making higher lows. This pattern suggested that selling pressure was starting to weaken, and XRP reacted accordingly.