Ripple Launches RLUSD Stablecoin on Various Layer 2 Platforms
Launch of RLUSD: Ripple is set to launch its RLUSD stablecoin on Layer 2 networks, with testing beginning on Optimism, Base, Ink, and Unichain, pending regulatory approval. This move aims to enhance scalability and interoperability for regulated stablecoins.
Multichain Strategy: RLUSD's expansion to Layer 2 networks utilizes Wormhole’s Native Token Transfer standard, allowing secure cross-chain transactions while maintaining regulatory oversight, positioning it as a leading U.S.-based stablecoin.
Growing Demand: The borrowing of RLUSD on Aave Horizon has reached an all-time high of over $108 million, indicating strong demand and confidence in the token as a stable, regulated digital asset within the DeFi ecosystem.
Global Compliance: Issued under a New York Department of Financial Services Trust Company Charter, RLUSD is recognized in various jurisdictions, including Dubai and Abu Dhabi, showcasing Ripple's commitment to global regulatory compliance.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE) As of , (STABLE) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 5 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for STABLE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, STABLE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.00244 | 0.00655 | 0.0147 | 0.0237 | 0.0319 | 0.0409 | 0.0491 |
| Fibonacci | 0.00655 | 0.0131 | 0.0172 | 0.0237 | 0.0303 | 0.0343 | 0.0409 |
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