A closer look at some of the key developments surrounding Ripple and XRP.
Ripple has made headlines once again after major announcements about its stablecoin RLUSD and the signing of strategic deals.
The price of XRP remains low amid the overall bear market, but recent whale activity suggests a recovery could be knocking on the door.
Latest collaboration
Earlier this week, Ripple Shake hands With Convera, a leading fintech company specializing in cross-border payments and foreign exchange services. The main goal of the collaboration is to offer cryptocurrency-enabled payment and treasury solutions to businesses. Convera CEO, Patrick Gauthier, spoke about this:
“Ripple is a clear leader in the cryptocurrency space and is a natural fit for Convera. We look forward to continued success and growth as we roll out these capabilities to customers near and far.”
According to the official announcement, the partnership is based on a “stablecoin sandwich” settlement model, where Convera will coordinate the end-to-end payment experience, while Ripple will provide the underlying infrastructure for liquidity, on/off, and cross-border settlement.
Aside from the new deal, Ripple Prime has expanded its Hyperliquid integration to include HIP-3 products. Mike Huggins open The development will enable institutional access to traditional assets such as gold, silver and oil.
Moreover, it just ripples Announce Launch of Digital Asset Accounts and Unified Treasury – two products aimed at allowing businesses to manage fiat currencies and cryptocurrencies side by side in a single system. This eliminates the necessity of manual reconciliation or the use of separate platforms.
RLUSD offers
The stablecoin Ripple, which is pegged 1:1 to the US dollar, often makes the front pages. Just hours ago, Coinone (one of the largest cryptocurrency exchanges in South Korea) was launched. open Trading services for the asset directly in South Korean won. Other well-known platforms have listed RLUSD over the past few months Includes Binance, Kraken, Bybit, Gemini, and more.
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The product officially saw the light of day at the end of 2024, and at some point this year, its market value exceeded $1.5 billion. The number currently stands at around $1.23 billion after some major burning. User It has been detected Gemini recently redeemed (by burning) 128 million RLUSD on the XRP Ledger with Ripple.
“This means that they requested to restore the liquidity they used to mint RLUSD with Ripple, by burning RLUSD,” the analyst explained.
XRP price and whales
As of this writing, Ripple’s native token is worth around $1.35, which represents a 10% decline over the past two weeks. While a bear market may suppress valuation further in the short term, recent actions by major investors suggest a rally may also be on the way.
like CryptoPotato I mentionedThese market participants acquired 190 million tokens last week. Before that, X used CW open Retail investors lost interest in XRP, but whales increased their exposure.
“This is a very ideal situation. Retail investor interest has waned, and whales are quietly accumulating,” the analyst claimed.
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