- Ripple has unveiled the launch of its RLUSD stablecoin within Ripple Payments to enhance cross-border transactions.
- XRP recorded realized losses exceeding $710 million, marking a two-year peak.
- XRP is at risk of confirming a Head-and-Shoulders pattern following the beginning of Trump’s reciprocal tariffs with US trading partners.
On Wednesday, XRP dropped by 5% after President Donald Trump’s announcement regarding reciprocal tariffs on all international trading partners. This decline erased gains that had previously occurred after Ripple’s announcement of the RLUSD stablecoin’s integration into its payment platform, Ripple Payments.
RLUSD launched on Ripple Payments; Trump’s tariffs lead to $710 million in realized XRP losses
Ripple has confirmed the addition of RLUSD to its cross-border payments system, Ripple Payments, to further promote the adoption of the stablecoin.
Ripple mentioned that select clients, including payment providers like BKK Forex and iSend, are utilizing RLUSD to enhance their international treasury operations.
Since its debut in December, RLUSD has seen significant growth, now approaching a market cap of $250 million and a trading volume of $10 billion, as reported by Ripple.
“We are witnessing the market cap continuing to expand, surpassing our internal forecasts. In a short span, RLUSD is being utilized for various applications, including as collateral in both crypto and traditional finance trading markets,” stated Jack McDonald, senior vice president of Stablecoins at Ripple.
Additionally, Ripple announced that RLUSD is now available on the crypto exchange Kraken, further expanding its global partnerships.
Initially, XRP rose by 2% following the announcement but has since reversed those gains, now trading with a 5% loss in the last 24 hours. This swift decline has led to investors realizing $710 million in losses — the highest figure since December 2022.
This trend indicates that some XRP investors are starting to liquidate at substantial losses, in contrast to earlier months when high prices allowed for profit realization during market corrections.
XRP realized losses.
This downturn follows Trump’s announcement of a 10% tariff on all US imports and reciprocal tariffs based on half the rates of each country involved.
The decision has caused significant losses across major cryptocurrencies, with the overall crypto market cap plummeting more than 5%.
XRP may confirm H&S pattern after Trump’s reciprocal tariffs
XRP experienced increased selling pressure on Wednesday, resulting in a 5% drop and $17.26 million in futures liquidations. The total liquidations consisted of $10.67 million in long positions and $6.59 million in short positions.
With Trump’s announcement intensifying the crypto market’s losses, the $1.96 support level is crucial for this remittance-focused token. A fall below this level, along with the 200-day Simple Moving Average (SMA), could confirm a Head-and-Shoulders (H&S) pattern, possibly driving XRP to seek support around $1.35.
XRP/USDT daily chart
The Relative Strength Index (RSI) sits below its neutral mark, while the Stochastic Oscillator (Stoch) has entered the oversold zone, suggesting a prevailing bearish trend.
If a daily candlestick closes above $2.34, this could invalidate the current bearish outlook and potentially propel XRP toward $2.78.