Key Takeaways
- Stablecoin growth continues to surge as more interest in RLUSD could spark an XRP rally.
- AEON, a web3 platform, partners with Ripple to provide seamless payment services to over 20 million users.
- The XRP price could experience a significant price boost if its ETF is approved and the SEC lawsuit is resolved.
The stablecoin industry has continued to witness incredible growth over the years, particularly from international institutions and traditional finance companies looking to leverage the potential of blockchain technology to provide fast and more efficient payment solutions to users across the globe.
A stablecoin that has continued to gain significant dominance and traction since entering the crypto market is Ripple’s stablecoin (RLUSD), built on the Ripple ledger (XRPL), which is generating considerable hype and contributing to the current growth in the Ripple ecosystem.
Related Read – Major XRP Breakout is Coming Based on Math – Crypto Expert Hints
Recently, AEON, a web3 payment platform, announced its strategic partnership to integrate XRP and RLUSD into its system, aiming to provide seamless payment services to its users through mini-apps such as Telegram wallets and other centralized and decentralized crypto wallets.
AEON Partners With Ripple to Integrate RLUSD and XRP for Payment
AEON’s collaboration with Ripple to include its RLUSD stablecoin and XRP token on its platform comes as a huge boost for both its platform and the Ripple ecosystem, creating significant adoption for the crypto space while also giving AEON the opportunity to provide seamless payment services to over 20 million users in the Southeast.
This strategic partnership builds on the growing number of partnerships within the Ripple ecosystem, as the stablecoin industry has attracted liquidity from traditional finance. In a recent interview, the VISA CEO admitted the company is willing to tap into the potential of stablecoins and provide its users with such services.
However, despite the stablecoins industry, including RLUSD, gaining significant volume and adoption over the last few years, the price of its native token, XRP, has stalled in its price movement for weeks, suggesting market uncertainty.
Will the recent collaboration and potential ETF approval help XRP gain traction, and where would its price be headed?
XRP Price Analysis As Institutional Interest Grows
Source – XRP Price Chart from TradingView
Since the launch of RLUSD, the Ripple ecosystem has attracted major financial players to its space, following a strong rally of XRP to a high of $3.45, which created historical highs. The price of XRP has struggled to meet market expectations of a rally towards $20.
Crypto experts and investors expected the price to rally due to the significant interest from institutional investors, also known as smart money. Still, it has remained in consolidation above the key support level of $2 despite a price crash below this point.
Although there are strong speculations from experts suggesting that XRP’s ETF approval and SEC case settlement could trigger its price to break out of consolidation and reach a high of $3, if the price breaks above $3, then we could see a strong rally towards new highs of $5.
