Ripple: the stablecoin RLUSD obtains the final approval from the NYDFS

Good news for Ripple, with the New York Department of Financial Services (NYDFS) giving the final approval for the stablecoin RLUSD. Ripple’s CEO, Brad Garlinghouse, shared the news on X, stating that the official launch will be announced first by the crypto company. 

Ripple and the final approval for the RLUSD stablecoin from the NYDFS

The CEO of Ripple, Brad Garlinghouse, stated that the stablecoin RLUSD has received final approval from the New York Department of Financial Services (NYDFS). 

Garlinghouse added that the official launch of RLUSD will arrive very soon and that it will be the crypto company Ripple to reveal it, before anyone else. 

In fact, on Ripple’s X account, the company continues to recommend the crypto community to be cautious of various speculations. Just last week, Ripple had to deny the alleged launch of RLUSD with a message: 

Ripple and the launch of RLUSD: a matter of days?

Last September, Garlinghouse again, had stated that the launch of RLUSD was very close, indicating the timeframe as “weeks and not months”.

From September to today, in reality, two months have passed, but the good news is that the approval from the NYFDS has arrived. 

At this point, given that the official launch of RLUSD was expected by the end of the year, could the timing be reduced to a “matter of days”?

In any case, the community is ready and so is the crypto company. The success of the beta testing of RLUSD arrived in August 2024, along with the activation of the Ripple USD (RLUSD) Tracker account that publishes the various activities of the stablecoin. Its latest post reads as follows:

The price of the crypto XRP

And speaking of RLUSD and Ripple, one cannot help but take another look at the price of XRP. At the time of writing, XRP is worth $2.32, in a pump of +300% compared to 30 days ago.

In the last month, in fact, XRP has climbed its ranking, positioning itself in third place with a total market cap of 132.88 billion dollars. 

The reasons for this unlocking of XRP are many. The first triggering factor is definitely the victory of Donald Trump in the 2024 presidential elections. 

In fact, the true remuntada of the price of XRP began precisely when 18 States in the USA accused the Securities and Exchange Commission (SEC), and its former Chairman Gary Gensler, of having unjustly persecuted the crypto industry. 

From here, then, there was the change of guard at the Presidency of the SEC, the entity that sued Ripple for four years. First, the resignation submitted by Gensler, and then, the new appointment of Paul Atkins which generated the latest bull crypto wave, with Bitcoin (BTC) surpassing $100,000.

Another reason, then, is the officialization of the filing of the S-1 form by WisdomTree to issue its own ETF on XRP spot, pending approval.