Quick overview

Live XRP/USD Chart

---

XRP sits below $2.5 while the market waits in anticipation of two backed stablecoins set to be launched on the XRP Ledger.

The launches are expected to add value to the network and expand the adoption of stablecoins within the XRPL system. Data from Glassnode indicates that user activity within the XRP network has changed significantly over the last 10-day period.

 

The number of active addresses was just above forty-eight thousand, about 2 weeks back.

Then a steep drop followed, and that number was reduced to around thirty-three thousand by May 16. On the 17th of May, there was a spike in activity; the number of active addresses surged to almost forty-four thousand, marking the peak during this window.

The count dropped below thirty within a day and remained in that range for three days. However, on May 21st, it rose again to thirty-three thousand.

Ripple revealed that Schuman Financial has already issued its euro-pegged stablecoin directly on the XRPL, called EURØP euro.

The digital asset is compliant with the Markets in Crypto-Assets Regulation and issued by a regulated electronic money institution under the supervision of France’s ACPR, a subdivision of the central bank. EURØP is fully collateralized by reserves at major institutions like Societe Generale and audited by KPMG

The launch was dubbed “the next wave of financial innovation happening on-chain” by Schuman CEO Martin Bruncko, who also commended XRPL’s strong infrastructure, which has already processed over 3 billion transactions across 200 independent validators.