XRP prices are recovering from the broader crypto market crash earlier this year as the token was positively affected by news that Ripple's $RLUSD stablecoin has been approved by the NYDFS.

Ripple‘s native token (CRYPTO: XRP) has skyrocketed 20% over the last 24 hours, trading at $2.43, significantly outpacing Bitcoin's (CRYPTO: BTC) 5% rise to $100,500. The rally comes after Ripple Labs secured approval from the New York Department of Financial Services (NYDFS) for its RLUSD stablecoin on Tuesday,

Ripple has won approval from the New York Department of Financial Services for the upcoming launch of its dollard-backed stablecoin RLUSD.

Ripple has achieved a major milestone with the New York Department of Financial Services (NYDFS) approving its RLUSD stablecoin. RLUSD, a dollar-pegged stablecoin built on the XRP Ledger, is designed for efficient cross-border payments while maintaining a 1:1 parity with the US dollar.

Ripple gains final NYDFS approval for its RLUSD stablecoin. Ripple hasn’t specified a launch date but says the listing will begin soon. Ripple’s CEO cautioned

RLUSD stablecoin approval from NYDFS secures Ripple's entry into the market, aiming at institutional focus and USDC competition.

Ripple labs gains NYDFS approval for RLUSD stablecoin, pegged to the US dollar, with third-party audits, liquidity via XRP, and multiple exchange partners.

Ripple Labs’ RLUSD stablecoin has been approved by the New York Department of Financial Services (NYDFS), according to CEO Brad Garlinghouse.

XRP rose 8% after New York's top crypto regulator granted Ripple final approval for its RLUSD stablecoin, with listings coming soon.

XRP is soaring after its creator, Ripple, announced that its planned and unrelated RLUSD stablecoin has finally received regulatory approval and is preparing to launch “soon.” XRP is up 11% in the last 24 hours,