Ripple Injects $40 Million into RLUSD Market Through Gemini Wallet

TLDR

• Ripple’s stablecoin arm transferred $40 million in RLUSD to a Gemini-linked wallet.
• The transaction involved two separate transfers of 20 million RLUSD each.
• The total amount of RLUSD in the Gemini wallet now exceeds 98 million tokens.
• There has been no official announcement regarding the reason behind the transaction.
• Ripple’s partnership with Mastercard, Gemini, and WebBank is linked to a credit card settlement project.

Ripple’s stablecoin arm has injected another $40,000,000 into the market through two separate transactions. These moves, both initiated by the RLUSD Treasury, were sent directly to an address linked to the Gemini exchange. The transfers were made in equal parts, each involving 20 million RLUSD, bringing the total amount in the wallet to over 98.3 million RLUSD. This significant move has sparked conversations within the XRP community about potential plans behind these large-scale transactions.

$40 Million Added to RLUSD Market

Ripple’s RLUSD Treasury executed two large transfers of 20 million RLUSD each. The total of $40 million was sent to a Gemini-associated address, a leading U.S. crypto exchange. This brings the total amount of RLUSD held in this particular wallet to over 98 million tokens, further solidifying the market’s liquidity position.

Despite the sizable transaction, no official announcements have been made, and no movements to retail wallets or exchanges have been observed. This raises questions about the timing and purpose behind the release, especially considering Ripple’s ongoing projects.

Connection to Mastercard, Gemini, and WebBank

Ripple’s involvement with Mastercard, Gemini, and WebBank has been in the spotlight recently, especially regarding a pilot project for credit card settlement. The companies are reportedly waiting for regulatory clearance to fully implement RLUSD for these transactions. While there’s no public link between this wallet and the pilot program, the scale of the transaction and the involvement of Gemini have fueled speculation.

Observers wonder if this $40 million transaction is part of predeployment positioning for this upcoming project. Ripple’s close ties with these entities have led some to believe that these funds could be preparing for a larger, regulated initiative involving RLUSD.

The issuance of RLUSD has not yet moved the market significantly, with its total supply remaining at $1.33 billion. The 24-hour trading volume is currently reported at $110.7 million, showing a healthy market presence. However, the sudden appearance of such a large sum of RLUSD sitting dormant in a Gemini-linked wallet has many questioning its future role.

This large liquidity injection into the market could serve as a liquidity management move by Ripple, positioning RLUSD for potential use in future projects. While it is not clear when or how these funds will be deployed, the transaction sends a clear signal of Ripple’s strategy moving forward. The latest transfer raises more questions about the potential regulatory and business intentions behind the stablecoin.

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