Ripple USD (RLUSD), a stablecoin launched by Ripple, has witnessed a sharp 31% drop in trading volume within the last 24 hours, according to CoinMarketCap. The sudden decline has raised concerns among investors who had previously viewed RLUSD as a promising digital asset. Currently, RLUSD’s trading volume stands at $96.8 million, down significantly from over $140 million recorded the previous day.
Market Cap Remains Steady Despite Reduced Activity
Despite the drop in volume, RLUSD’s market capitalization only dipped slightly by 0.03% to $316.9 million. This minor decrease indicates that although fewer users are actively trading the stablecoin, most still hold their positions. The asset, however, remains far behind top competitors like Tether (USDT) and Circle’s USDC.
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Investors appear to be shifting focus back to XRP, which may explain RLUSD’s decline in volume. Over the same 24-hour period, XRP’s price rose 2.5%, reaching $2.58. Although XRP’s market cap hit $151 billion, its own trading volume also fell by 36%, now at $5.6 billion. This trend suggests a broader cooldown in the crypto market’s trading activity.
Initial Hype Fades Despite Strategic Efforts
Just weeks ago, RLUSD captured attention with a 37% surge in trading volume over a single day. Analysts attributed this momentum to its growing global reach and strategic positioning. Major exchange Gemini added RLUSD to its listings, enhancing liquidity and visibility.
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Additionally, Ripple made headlines by donating $25 million worth of RLUSD to DonorsChoose and Teach For America, boosting the coin’s public image. While RLUSD initially enjoyed strong market support, the recent decline in trading volume suggests weakening enthusiasm.
With XRP regaining momentum and investors reconsidering their allocation strategies, RLUSD must demonstrate lasting utility and adoption to regain attention. The stablecoin’s future will likely depend on sustained use cases in both crypto and traditional finance ecosystems.
