XRP Gains as Ripple RLUSD Stablecoin Lists on Gate.io
XRP price is up about 5% in 24-hour trading to $1.23 following Ripple’s listing of the RLUSD stablecoin on Gate.io, boosting investor optimism about the token’s outlook as a cross-border payment gateway.
The token significantly outperformed a modestly rising broader market on Tuesday, primarily driven by a surge in risk-on sentiment following a major geopolitical development and positive ecosystem news.
XRP trading volume has surged by 115% over the last 24 hours to $3 billion in transaction value, led by buy-side crypto investors taking positions in expectation of strong upside potential.
Supporting the optimism, Gate.io listed Ripple’s USD stablecoin, RLUSD, opening trading pairs against USDT, BTC, ETH, and XRP on 15 June.
The exchange is offering exclusive rewards to early participants. What this means: This is bullish for Ripple’s ecosystem, as a major centralised listing provides RLUSD with immediate liquidity and utility.
Traders said a robust stablecoin ecosystem can enhance the XRP Ledger’s appeal for cross-border payments and DeFi, potentially driving more transactional use for XRP itself.
Meanwhile, news of an impending U.S.-Iran peace deal, expected to be signed by June 19, reversed risk-off sentiment and triggered buying across risk assets.
Crypto analysts said the listing of Ripple’s stablecoin RLUSD on Gate.io and the launch of an XRP/RLUSD trading pair provided a direct, bullish narrative for XRP’s utility in payments and liquidity.
XRP rally was fueled by a powerful combination of improving macro conditions and tangible progress in Ripple’s ecosystem, attracting both speculative and fundamental buyers, traders said.
The rapid price ascent forced bearish traders to cover positions, creating a feedback loop. Data show $7 million in liquidations over 24 hours, with shorts accounting for 86% or $6.03 million of that total.
Separately, XRP spot ETFs recorded $10.68 million in net inflows last week, demonstrating institutional demand that diverges from the outflows seen in Bitcoin and Ethereum ETFs.
The move was accelerated by forced buying (short covering) and appears to have underlying institutional support, lending it greater durability than a purely speculative pump.
Technically, XRP has broken above key short-term moving averages and the $1.20 resistance. The immediate bullish scenario involves holding above $1.20 to challenge the next key resistance zone between $1.27 and $1.30.
The primary near-term risk is the Federal Reserve’s FOMC meeting on June 17; a hawkish surprise could pressure the broader crypto market and test XRP’s newfound support.
The breakout is constructive, but its sustainability will be tested by both technical holding power and the upcoming macro event. 17. XRP’s surge is backed by a credible macro catalyst and ecosystem development, with technicals confirming a shift in momentum. XRP Price Surges 8% on Japan’s New Crypto Rule, ETF Inflow
