XRP Outshines Bitcoin, Ethereum Following RLUSD Launch — Derivatives Traders Amp Up Bets For Coin Even As Whales Load Up

XRP (CRYPTO: XRP) became the best-performing large-cap cryptocurrency Monday following the launch of Ripple Labs’ USD-backed stablecoin RLUSD.

What happened: The payments-focused cryptocurrency rose 3.51% in the last 24 hours, outpacing the returns of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

With the latest push, XRP’s monthly gains zoomed to 138%, the biggest among cryptocurrencies in the top 10 by market capitalization.

The rally was likely powered by significant buying interest from whale investors. Noted cryptocurrency analyst Ali Martinez highlighted that whales purchased over 830 million XRP, worth over $2 billion at prevailing market prices.

See Also: If You Invested $1,000 In Bitcoin When The First Bitcoin ETF Was Filed, Here’s How Much You’d Have Today

The readings of moving averages supported the …

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