XRP News: Ripple Labs Mint 15 Million RLUSD as Whales Bet on Price Rally
Key Insights:
- XRP news came into the spotlight after 15 million RLUSD was minted at the RLUSD Treasury.
- A reported whale opened a $48 million XRP long position using 10x leverage.
- The XRP price traded near $1.38 as $1.36 support and $1.40 to $1.42 resistance coming into focus.
XRP news drew fresh attention after Ripple Labs minted 15 million RLUSD at the RLUSD Treasury, while a reported $48 million leveraged XRP long emerged. Meanwhile, the XRP price traded near $1.38 as traders watched key support and resistance levels.
XRP News Points to Fresh RLUSD Minting
The latest XRP news centered on a new 15 million RLUSD mint recorded at the RLUSD Treasury. The transaction was shared by Ripple Stablecoin Tracker, which monitors activity involving Ripple USD.
The mint came as XRP traded around $1.38, according to the market data shared in the post. XRP had gained 2.97% over the previous 24 hours, while its market value stood at about $86.9 billion.
The new RLUSD mint does not, by itself, show that the funds were being moved into XRP. However, it added to the broader activity around Ripple and its stablecoin as traders closely watched the XRP price.
