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,

Ripple Labs' RLUSD , fully backed by U.S. Treasury bonds, gained NYDFS approval, enhancing its compliance-first

In a post on the social media platform X, Ripple chief executive Brad Garlinghouse says that Ripple USD (RLUSD) – the firm’s new dollar-pegged crypto asset – has been approved by the New York Department of Financial Services (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,

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.

XRP has surged significantly this month, driven by bullish momentum and widespread gains in the cryptocurrency market. Investor interest and positive

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

The XRP price surged over 6% in the last 24 hours after Ripple CEO Brad Garlinghouse said stablecoin RLUSD had received regulatory approval.

The crypto community is anticipating the launch of Ripple’s RLUSD stablecoin, which is expected to occur on Dec. 4.