XRP Takes Back Seat As Ripple RLUSD Eyes $13 Trillion Market Amid CLARITY Act Vote

Kritika Mehta
Kritika Mehta

Kritika Mehta

News Writer & Journalist
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
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XRP is taking a back seat from the spotlight in favor of RLUSD as Ripple’s stablecoin aims to capture a large market of corporate treasuries. While commenting on the latest progress being made in the XRP Ledger and the upcoming CLARITY Act vote, Thinking Crypto host Tony Edward pointed to massive opportunity for the crypto market.

Tony Edward Sparks XRP vs. RLUSD Debate

In a YouTube video, Edward stated that Ripple’s Stablecoin Chief Jack Mcdonald believes that there is $13 trillion in the corporate treasury that will be available to RLUSD. He added that payments and capital markets were fuelling the growth of stablecoin.

“Jack is eyeing a customer base that handles roughly $13 trillion in transactions annually,” Edward said.

The comments follow as Ripple keeps growing RLUSD around the world. Edward highlighted the payments firms and banks in which the company is involved. He also highlighted Ripple’s acquisition of GTreasury.

The expansion may enhance the institutional payments and capital markets role for RLUSD. Edward also connected the continued development of the XRP Ledger to the growth of the Ripple-backed stablecoin.

Clearpool Finance proposes migrating to the XRP Ledger,” Edward said. The transfer would be based on the new lending standards of XRPL institutional credit products.

He also stated that Ripple has committed to investing in XRP and RLUSD yield products. However, Edward is still bullish on XRP. Moreover, he stated that he is still buying the dip across many cryptocurrencies.

CLARITY Act Takes Center Stage Ahead of September 15 Vote

The focus on Ripple’s RLUSD has come as the industry prepares for a key week of U.S. legislation. The Senate will vote on the CLARITY Act on Sept. 15.

Edward pointed out that the talks were underway and growing in the lead up to the vote. White House crypto director Patrick Whitt took to X to say that “Bad day to be a CLARITY Act doomer.”

Billionaire investor Mike Novogratz also weighed in. “Clarity isn’t dead,” he wrote. They are still talking over the weekend, he added.

The ethics issue is a major concern,” Edward said. The White House has the opportunity to write a new ethics agreement ahead of the vote, he opined.

Coinbase CEO Brian Armstrong is also bullish on the outlook. Edward also spotlighted that Armstrong recently called the CLARITY Act as “right at the finish line.”

The bill may lay the groundwork for a wider regulation of the United States crypto sector. Edward added that its passage also may improve market sentiment.

He said that the approval could lead to a big rally on Bitcoin. “You’re gonna see a God candle print on the Bitcoin chart,” Edward predicted. He also mentioned that altcoins may be in the future.

Meanwhile, the potential market of $13 trillion for Ripple’s RLUSD shows the interest of the institutions in tokenized finance. Nonetheless, the confidence in XRP is also growing despite the regulatory woes as the XRP Ledger expansion continues.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.