- Two new stablecoins, EURØP and USDB, have launched directly on the XRP Ledger.
- These launches are expected to bring more funds and activity to the network, potentially benefiting the XRP token and expanding its use in real-world payments and digital assets.
The XRP Ledger (XRPL) recently welcomed two new stablecoins, usually tied to a traditional currency like the Euro or US Dollar. These additions are creating positive buzz around the network and the XRP token itself.
Stablecoin Additions and XRP’s Outlook
Ripple announced on May 22nd that a financial company from Paris called Schuman Financial has launched a stablecoin for the Euro, named EURØP, directly on the XRPL. Schuman Financial stated that EURØP follows important European Union rules for crypto assets (called MiCA) and is overseen by regulators in France.
It is fully backed by reserves of Euros held in large financial institutions like Societe Generale and is regularly checked by auditors from KPMG, ensuring its stability and compliance.
Martin Bruncko, the CEO of Schuman, said this launch is part of “the next wave of financial innovation happening on-chain” and highlighted the XRPL’s strong and reliable technology, which has handled billions of transactions. EURØP is intended for use in various real-world situations, such as for tokenised assets, payments between businesses, and international money transfers.
On the same day, another company, Braza Group from Brazil, also launched its stablecoin on the XRP Ledger. Their stablecoin, called USDB, is designed to be pegged to the value of the US Dollar. USDB is backed by government bonds from both the United States and Brazil and is also regularly audited.
Braza Group plans for USDB to be used by large companies and individual users alike, particularly for sending money across borders and for commercial transactions through their mobile app.
Braza Group has extensive experience in Brazil’s financial sector, processing over $1 billion in interbank payments daily. The company aims to capture a significant share of Brazil’s US Dollar stablecoin market by the end of 2025. Marcelo Sacomori, the CEO of Braza, expressed confidence that stablecoins will eventually become more important than traditional foreign exchange markets and sees the XRPL as a suitable platform for this shift.
The addition of EURØP and USDB together positions the XRP Ledger as a more attractive platform for regulated digital money transfers. These new stablecoins bring fresh capital and possibilities for real-world uses in Europe and Latin America, fitting into the larger trend of adopting blockchain technology in a way that follows existing financial rules.
Following these announcements and the improved outlook, the price of the XRP token has seen a positive reaction, gaining around 2% in the past 24 hours and trading at $2.42, up 0.85% in the last 24 hours.
Looking at the price from a technical standpoint, XRP is currently trading sideways slightly below a resistance level around $2.47. The Relative Strength Index (RSI) suggests there is still potential for the price to move higher before becoming overbought.
While some short-term indicators show mixed signals, key moving averages (like the 10-day and 20-day) are sloping upwards, which generally supports the idea that the overall positive trend is still active.
If buyers can push the price above the resistance zone around $2.58, the next goal for XRP could be around $2.80, potentially followed by a test of the important psychological level of $3.00. However, if XRP fails to break through the current resistance, the price could pull back towards support levels, possibly around $2.30 or even $2.16, where longer-term moving averages meet.
With the launch of these regulated stablecoins, the XRP Ledger is enhancing its capabilities for digital payments, which is contributing to the positive sentiment and recent price movement seen in the XRP token.
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