XRP surged over 10% following the launch of Ripple's RLUSD stablecoin, leading to nearly $1.5 billion in investor profits. While XRP faces resistance near $2.58, whales continue to accumulate, suggesting strong buying pressure.
XRP has risen over 10% since Ripple launched the RLUSD stablecoin. XRP investors booked nearly $1.5 billion in profits in the past 24 hours following its recent price rise. XRP struggles near the $2.58 resistance as investors maintain the $4.75 target. Ripple ( XRP ) is up 3% on Wednesday after witnessing significant profit-taking among its investors following the launch of the RLUSD stablecoin. Whales have soaked up the selling pressure from profit-takers as XRP struggles near the $2.
58 resistance level. XRP investors realized $1.48 billion in profits following RLUSD launch Ripple confirmed in an X post on Tuesday that its RLUSD stablecoin has gone live across exchanges, including Uphold, MoonPay, Keyrock, Archax, Bitso and CoinMENA. Ripple USD (RLUSD) is now live on global exchanges. An enterprise-grade stablecoin built for everyone, $RLUSD combines fiat stability with blockchain efficiency: ➡️ Instant global payments, 24/7 ➡️ Seamless on/off ramps ➡️ Access value in real-world assets.… pic.twitter.com/lJ43GdoDGR — Ripple (@Ripple) December 17, 2024 After Ripple's initialannouncement ofRLUSD's launchon Monday, XRP began rallying, rising over 10% since the announcement. Following the rise, XRP investors continued their profit-taking behavior, realizing over $1.48 billion in profits. This is the second-highest single-day realized profits XRP has seen in 2024. The sustained highprices in the face of such significant profit-taking show buyers have been weathering the selling activity from profit-takers. XRP Network Realized Profit/Loss | Santiment However, it's important to note that consistentprofit-taking at elevated levels could signal local market tops. This potentially explains why XRP has beenconsolidating since December 2. The buying pressure that has kept prices afloat must have come from whales, as Santiment data shows XRP whale holdings increased by over 800 million XRP, worth nearly $2 billion, in the past two day
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