Coinspeaker
Ripple’s Multichain Stablecoin Announcement Ignites Bullish Momentum for XRP

Ripple, the company behind the digital asset XRP, recently announced its plans to launch a multichain stablecoin pegged to the United States dollar at a 1:1 ratio. This new development has ignited a surge of bullish sentiment surrounding XRP, with the coin experiencing a price increase on the heels of the news.

Ripple’s Stablecoin Fuels XRP Rally

The impact of this announcement was immediately felt in the market, as XRP’s price movement reflected the enthusiasm of traders and investors. On the day of the announcement, the coin had a bullish spike, bottoming out at $0.56 in the early hours before spiking up to $0.61 around midday.

While bears attempted to regain control later in the day, the overall trend remained decisively bullish for XRP traders, with the coin closing the day at $0.6 and gaining about 8.97% in 24 hours. At the time of writing, the coin has continued the bullish momentum on both the one-hour and four-hour timeframes.

The effects of this news ...