Ripple transfers 380 million XRP valued at 915 million USD to promote RLUSD

Ripple’s XRP transfer ignites Optimism: The transfer of 380 million XRP coincided with a 5% increase in its value, driven by the New York Department of Financial Services approving Ripple’s stablecoin, RLUSD. This supports a stronger position for Ripple in the crypto market.

Debate over transfer implications: Market analysts debate the XRP transfer’s implications—ranging from an internal reallocation of assets to possible sell-off predictions. CEO Brad Garlinghouse confirmed the approval, marking a key milestone for Ripple’s entry into broader cryptocurrency exchanges.