Ripple’s CEO, Brad Garlinghouse, has officially announced that the New York State Department of Financial Services (NYDFS) has granted approval for RLUSD, their USD-pegged stablecoin.
The stablecoin was launched in partnership with crypto exchanges Uphold, Bitstamp, and Bitso.
This news has sparked optimism among crypto investors and caused the price of XRP to increase by 21% from its previous low of $1.9 in the last 24 hours.
XRP has also seen a significant increase in the last month, but has seen a 10% decrease in the last week. At the same time, Bitcoin’s long positions have experienced $416 million in liquidations.
