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Fortune
Fortune
Catherine McGrath

XRP soars 11% as Ripple RLUSD stablecoin prepares to launch

Ripple United States XRP Brad Garlinghouse New York Circle Tether
(Credit: Jakub Porzycki/NurPhoto—Getty Images)

XRP is soaring after its creator, Ripple, announced that its planned and unrelated RLUSD stablecoin has finally received regulatory approval and is preparing to launch “soon.” 

XRP is up 11% in the last 24 hours, after stumbling briefly on Tuesday as investors rushed to unload altcoins. The coin’s value rose from $1.98 to a high of $2.46, amid news that Ripple’s highly-anticipated stablecoin, which has been in development since April, is preparing to debut. 

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