XRP Surges 50% as Ripple USD Stablecoin Gains Momentum

XRP's price has been on an upward trend, reaching its highest level since August 25 at $1.4797, up by nearly 50% from its lowest point this month.

The token's daily chart shows a large bullish flag pattern and a golden cross pattern, indicating that the bulls are in control for now.

The Ripple USD (RLUSD) stablecoin has also been gaining momentum, with its market cap jumping to $2.4 billion from $1.3 billion at the start of the year.

The RLUSD transfer volume has reached its highest level in weeks, and the amount on the XRP Ledger network has jumped to over $1.03 billion.