XRP price eyes a rebound as a key stablecoin metric crosses $400m milestone. XRP price suffered a big reversal and dropped for four consecutive days as the recent crypto market rally lost momentum. XRP price has retreated in the past few days, erasing some of the recent gains. The supply of stablecoins in XRP Ledger has crossed the $400 million milestone.
This growth has been driven by the Ripple USD (RLUSD) coin whose supply has jumped by 42% in the last 30 days to $332 million. Ripple USD, launched in December 2024, has grown into one of the largest stablecoins, with a total supply of $1.4 billion. Most of the supply is in Ethereum (ETH), which is the most popular chain for stablecoin transactions. The supply will likely increase as Ripple extends it to other layer-2 networks such as Base and Optimism.
XRP is also seeing some demand from American investors, who acquired ETFs worth over $8.7 million on Thursday after shedding $40 million in assets a day earlier. Total inflows in XRP ETFs has jumped to $1.21 billion, while the net assets have moved to $1.49 billion. From a technical perspective, the daily chart shows the price retreat. It remains above the 50-day moving average and the Supertrend indicator, and sits above the upper boundary of a falling wedge, a bullish reversal sign.
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