There are new developments in the United States that Ripple (XRP) will come. US senator Bill Hagerty’s announcement that the Genius Stablecoin law will be approved next week created significant expectations for the sector participants. This new regulation is said to support Ripple’s stable digital presence called Rlusd and in general US -based Stablecoin projects.
Potential Effects of GENIUS Draft Law
In the event that the GENIUS bill is enacted, local initiatives in the country are thought to become more competitive in the global stablecoin market. According to analysts, this may directly affect the development of Rlusd. Rlusd’s market value is now at the level of $ 313 million and is kept by a total of 2,660 investors.
It is considered that the regulation to be enacted can provide an important advantage in competition with overseas -based stablecoins, especially TETHER’s USDT. Market participants draw attention to the possibility of increasing the market share of Rlusd after regulation.
Ripple and market indicators
Ripple (XRP) $2.35 Today, it is traded at $ 2.37 and suffered a depreciation of 1.35 percent in the last 24 hours. According to CoinMarketcap data, Ripple’s trading volume decreased by 37 percent in this period. On the other hand, compared to Tether’s USDT, Rlusd’s processing volume is very low.
Rlusd’s 24 -hour trading volume was recorded as 61 million dollars, and the USDT’s daily transaction volume was recorded as 54 billion dollars. Experts say that a significant increase in the transaction volume of Rlusd can open the door to improve the price of XRP.
Possibilities for the growth of Rlusd
Rlusd’s market value reaches 50 percent of Tether’s total market value (75 billion dollars) in the price of a significant rise in the price of XRP. It is known that such developments in the crypto currency market are rapidly reflected in prices, especially in periods of regulatory support.
It is stated that Ripple can access more users through Rlusd, which can bring liquidity and stability to the ecosystem. Currently, with the changes to be experienced in the regulatory environment, local projects will come to the fore and investor confidence may increase.
Senator Bill Hagerty: “Genius Stablecoin Law will be adopted next week.”
Some sector representatives think that US -based Stablecoin projects can be adopted more globally and gain strength in competition. It is emphasized that such changes may also lead to change in investor behaviors.
While the developments in the crypto sector are closely monitored, the performance of Ripple and derivative products can be shaped by the advantages of new regulations. Analysts predict that market dynamics remain active in the short term.
Ripple’s Rlusd fixed digital presence may become a more competitive position with new stablecoin regulations in the US. It is considered that regulatory developments can increase the investor confidence in the sector, expand the market share of local projects and growth may be positively reflected in the XRP price. The growth of Rlusd’s market volume can also strengthen the US position in the digital asset market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
