Solaxy (SOLX) Presale Closing In On The $30 Million Milestone

Solaxy is the first Layer-2 meme coin built to enhance Solana's scalability and tackle network congestion, all while slashing transaction costs.

The price of XRP dropped by more than 2% in the last 24 hours to trade at $2.04 by 4:04 a.m. ET, with trading volume increasing by 67% to $6.2 billion.

This comes as Ripple integrated its US dollar-denominated stablecoin, Ripple USD (RLUSD), into its cross-border payment solution.

Completing the integration of its US dollar-denominated stablecoin, Ripple USD (RLUSD) into its cross-border payment solution, Ripple Payments, announced that the token is now available on Kraken crypto exchange.

This move brings RLUSD closer to retail users, who can now easily buy, sell, and trade the stablecoin via Kraken’s renowned crypto platform.

Announcing the integration, Ripple stated that Kraken users can now seamlessly deposit, withdraw, and trade RLUSD.

Announced last month, RLUSD is designed to facilitate low-cost and rapid cross-border payments between financial institutions via RippleNet.

Despite the recent downturn in cryptocurrency prices due to macroeconomic headwinds, there has been a surge in interest in stablecoins, particularly in the U.S.

Earlier this year, the administration of President Joe Biden unveiled a framework for the regulation of stablecoins, aiming to prevent any potential destabilization of the financial system.

As part of the framework, the administration proposed that new stablecoins be issued only by institutions already subject to federal banking regulations.

Earlier this year, the price of XRP dropped sharply after the U.S. Securities and Exchange Commission filed a lawsuit against Ripple Labs.

The SEC is alleging that Ripple sold unregistered securities in the form of XRP to raise $1.3 billion from 2013 to 2018.

However, in April 2025, the SEC lost a bid to have the case dismissed summarily. A trial is set to begin in October 2025.

Despite the legal battle with the SEC, Ripple has been expanding its operations. In June, MoneyGram (NASDAQ:MGRAM) announced that it had integrated Ripple’s blockchain technology into its cross-border payment service.

This integration will enable MoneyGram to process U.S. dollar payments to Mexico using Ripple’s solution.

Moreover, MoneyGram will use a portion of the payment volume for a joint liquidity pool with Ripple, which will be used to facilitate cross-border payments with other currencies in the future.