Ripple's Institutional Growth Fades into Shadow of Bearish Technical Setup
XRP's fundamentals have improved despite its weak price action ahead of next week's Federal Reserve meeting. Ripple continues to expand its institutional payments platform, including the launch of Ripple Mint and growing adoption of RLUSD.
Ripple Mint allows financial institutions to mint and redeem RLUSD programmatically, automate treasury operations, integrate stablecoin payments, and leverage multichain liquidity. This should accelerate institutional adoption of RLUSD and drive more activity on XRP Ledger.
The circulation of RLUSD has surpassed $1.51 billion, backed by cash, cash equivalents, and short-term US Treasuries at 100%. Ripple has also received a full Crypto Asset Service Provider license in Europe, enabling it to offer regulated services across the European Economic Area.