XRP Price Holds Steady as RLUSD Growth Boosts Momentum

XRP is holding steady above a crucial support level after a recent price drop, and several fundamental indicators suggest it's poised for further upside momentum.

The cryptocurrency briefly fell below its previous quarter's value area high near $1.43 during a liquidation-driven pullback, but has since maintained that level as the most important technical marker in the current setup.

RLUSD, Ripple's stablecoin, has seen significant growth to over $2.1 billion in circulation, up from $1.57 billion on August 12, which is viewed as a positive signal for XRP's price.

The growth of RLUSD represents real revenue for Ripple independent of XRP's market capitalization, potentially reducing the company's reliance on XRP sales for funding.