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 mints 13.9 million RLUSD tokens across XRP Ledger and Ethereum Network during final testing phase, while XRP price reaches $2.35 amid growing anticipation for the regulated stablecoin's launch.

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).

On the back of mass liquidations, the XRP price seems to have reaffirmed its uptrend with the final approval for Ripple’s $RLUSD stablecoin.

The XRP price jumped 6.8% amid news that its stablecoin is approved, but traders rush to buy this ICO before it's too late.