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,

Ripple Labs' RLUSD , fully backed by U.S. Treasury bonds, gained NYDFS approval, enhancing its compliance-first

Ripple's stablecoin RLUSD is likely to go live today, December 4, after securing approval from the New York Department of Financial Services.

Ripple has achieved a major milestone with the New York Department of Financial Services (NYDFS) approving its RLUSD stablecoin. RLUSD, a dollar-pegged stablecoin built on the XRP Ledger, is designed for efficient cross-border payments while maintaining a 1:1 parity with the US dollar.

Blockchain payment firm Ripple Labs Inc. recently transferred 380 million XRP, valued at over $915 million, to an unknown wallet. This move has raised discussion within the crypto community regarding the impact on the price of XRP, Ripple’s associated native token. The news also comes on the heels of the approval of Ripple’s stablecoin, RLUSD.

Ripple has won approval from the New York Department of Financial Services for the upcoming launch of its dollard-backed stablecoin RLUSD.

Ripple’s RLUSD stablecoin receives NYDFS approval, reinforcing its compliance commitment and signaling a major win for the crypto market. Discover the impact on Ripple and XRP prices.

XRP prices are recovering from the broader crypto market crash earlier this year as the token was positively affected by news that Ripple's $RLUSD stablecoin has been approved by the NYDFS.

RLUSD stablecoin approval from NYDFS secures Ripple's entry into the market, aiming at institutional focus and USDC competition.

The XRP price jumped 6.8% amid news that its stablecoin is approved, but traders rush to buy this ICO before it's too late.