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Ripple (XRP) price resumed its double-digit growth on December 11 as investors were buoyed by news about Ripple RLUSD stablecoin launch approval. Whale investors advanced a buying frenzy, and experts are back to discussing a $3 breakout soon.
The recovery started when Brad Garlinghouse, Ripple (XRP) CEO, made the announcement about the New York Department of Financial Services (NYDFS) approving the RLUSD stablecoin launch. Despite the downward momentum due to South Korean political concerns on December 10, as liquidation momentum drove markets down, Ripple’s price was back to its upward trend by the end of the day.
Source: CoinMarketCap
The markets are back in recovery as Bitcoin (BTC), Ethereum (ETH), and BNB regain some lost ground, but Ripple (XRP) is leading the recovery list based on this positive news, regaining over 11% of its price to trade in the $2.3 to $2.4 range.
As the markets continue to support utility-based coins, DTX Exchange also crosses the $10 million landmark point in presales as its ICO continues to gather more investors.
Ripple (XRP) Surges 12% on RLUSD Approval
Ripple (XRP)’s market-leading performance has been linked to the pivotal approval of Ripple’s RLUSD stablecoin from the New York Department of Financial Services (NYDFS). This long-awaited approval places Ripple on track to develop its strategy of working as a bridge between conventional finance and crypto assets.
Ripple (XRP) plans to play a key holder role in global payments by enabling traditional financial assets to be tokenized by blockchain networks. Tokenization involves changing physical assets into digital tokens for quicker transactions.
RLUSD is positioned as a major player in this trend. The approval strengthens Ripple’s importance in the crypto industry, not just as an altcoin but as a digital payment vendor with a substantial global network.
The proposed RLUSD stablecoin will increase network demand for the native XRP coin. Ripple (XRP) price surged over 12% before settling down to a 10% rise in the daily charts as its price sustained the $2.3 to $2.4 range.
DTX Exchange (DTX) Crosses $10M Presale In Crashing Markets
While Ripple gained momentum, altcoins like DTX Exchange are also emerging as high-utility investment options. DTX Exchange changed the blockchain sector by introducing its VulcanX blockchain.
VulcanX is the first-ever hybrid layer-1 blockchain that shocked traders with its 10,000.
DTX Exchange also offers top features like quant-safe and algo-based trading. It also offers 1000x leverage so traders can enjoy an end-to-end trading environment for maximum gains.
DTX Exchange is rising fast as it pulls capital away from speculative meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). Millions were moved from meme coin wallets to DTX in 24 hours as people moved towards projects that offer utility-based value. DTX Exchange has reached the top of the ICO list by raising $10.1 million in its 6th presale and pricing tokens at $0.12.
Conclusion
As geopolitical concerns pushed the global crypto markets into a tailspin on Monday, on-chain data trends show that whale investors capitalized on the falling prices to buy the dip, nullifying bearish sentiment and pushing utility coins upwards.
The DTX Exchange platform is unique in combining the functionality of a centralized and decentralized exchange. Traders can trade everything from cryptocurrencies to ETFs to tokenized real-world assets with up to 1000x liquidity for higher and better returns.
To know more about the DTX Exchange ecosystem, Check out:
*This article was paid for. Cryptonomist did not write the article or test the platform.
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