Ripple’s U.S. dollar-pegged stablecoin, RLUSD, has officially launched, sparking curiosity about which major exchanges will support it. While Ripple’s Senior Vice President of Stablecoins, Jack McDonald, remained tight-lipped about specific exchange partnerships, he hinted at future listings, including potential support from leading platforms like Coinbase. This week, Bitstamp confirmed its support for RLUSD, marking a significant step in Ripple’s journey to expand its stablecoin presence.
In a recent interview with The Block, McDonald discussed the complexities of securing exchange listings, emphasizing the technical challenges involved. “There’s a lot that goes on [beyond a handshake], especially considering the diverse blockchains that stablecoins like RLUSD operate on,” McDonald explained. The stablecoin is currently supported on both Ethereum and XRP Ledger, following approval from the New York State Department of Financial Services (NYDFS).
Ripple’s RLUSD is the first XRP Ledger-based stablecoin to secure NYDFS approval, positioning it as a key player in the regulatory-compliant stablecoin market. McDonald noted that this approval could encourage other NYDFS-regulated entities to adopt RLUSD, making it an attractive asset for exchanges.
When discussing other potential exchanges, McDonald mentioned that platforms like Coinbase and Binance have historically shown exclusivity toward certain stablecoins due to strategic partnerships, such as Coinbase’s relationship with Circle’s USDC. However, he remains optimistic that exchanges will eventually expand their stablecoin offerings, including the possible inclusion of RLUSD.
Looking ahead to 2025, McDonald predicted that stablecoin issuers with strong institutional backing and regulatory compliance frameworks will dominate the market. Smaller, less compliant entrants may struggle to compete as liquidity and institutional trust become key factors in exchange and liquidity provider decisions.
With Ripple’s RLUSD making strides in both regulatory approval and exchange partnerships, the stage is set for it to challenge the dominance of existing stablecoins in the coming year.
Notable Solana meme coins to watch in March include DOGEai (DOGEAI), Official Trump (TRUMP), BONK, AI16Z, and Official Melania (MELANIA). DOGEai has surged nearly 20% in a week, capitalizing on AI and government transparency narratives.
TRUMP could see renewed interest from the White House Crypto Summit, while BONK remains the second-largest Solana meme coin despite a sharp decline. AI16Z is struggling along with the broader AI crypto sector, and MELANIA has faced heavy losses but could benefit from the upcoming political events.
DOGEai (DOGEAI)
DOGEai, an artificial intelligence meme coin, has a market cap of nearly $35 million after rising over 50% in the past two weeks. The project capitalizes on Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the AI crypto trend.
It functions as an autonomous AI agent designed to analyze government spending and policy decisions, providing bill summaries and insights into public expenditures.
If the uptrend continues, DOGEai could challenge resistance at $0.0573, with upside targets at $0.0683 and potentially $0.098 in a strong bullish move.
On the downside, support sits at $0.048, and a breakdown below that level could send the price to $0.029 or even $0.0119.
Official Trump (TRUMP)
The upcoming Trump Crypto Summit, set for tomorrow, could significantly impact Official Trump (TRUMP), a meme coin that has been struggling below $20 for over two weeks. The event could reignite interest in the coin, which has been in a downtrend for several weeks now.
TRUMP was one of the most hyped meme coins at launch, briefly reaching a $15 billion market cap. However, it has since lost over 80% of its value and is now worth $2.7 billion.
If momentum returns, TRUMP could test resistance at $14.4, $17.4, and $20.7, with a strong rally pushing it toward $24.5 for the first time since January 31.
On the downside, continued selling pressure could bring the price to support levels at $12.17 or $11, with a break below $11, making new all-time lows.
BONK
BONK, once the largest Solana meme coin, now holds the second spot after being surpassed by TRUMP, with a market cap of around $983 million.
Despite remaining one of the most relevant Solana meme coins, its valuation has dropped significantly from its $4 billion peak in November 2024. The broader Solana ecosystem has been in a sharp correction over the past 30 days, weighing on BONK’s price action.
If Solana and its meme coins regain momentum, BONK could test resistance at $0.000014 and $0.0000156. A breakout above these levels could push the price to $0.0000197, with a strong rally potentially sending it as high as $0.0000265.
However, if the correction continues, BONK could drop below $0.000012, test $0.0000109, and possibly fall under $0.00001 for the first time since December 2023.
AI16Z
AI16Z, a Solana-based crypto AI agent meme coin, has a market cap of around $315 million. Like the broader AI agent crypto sector, it has been in a sharp correction over the past 30 days, with its price dropping nearly 30%.
Despite this downturn, some AI-related coins have shown signs of recovery in the past week, creating uncertainty around the sector’s next move.
If momentum returns to the crypto AI agents narrative, AI16Z could test resistance at $0.419, with a breakout potentially sending it to $0.627.
On the downside, if the correction continues, the price could drop to test support around $0.25, and a break below that level would push AI16Z to its lowest price since November 2024.
Official Melania (MELANIA)
MELANIA, like TRUMP, could benefit from Trump’s Crypto Summit as investors look for catalysts in political-themed meme coins. Launched on January 19, MELANIA quickly surged to a $2 billion market cap but has been in a steep decline since, dropping 50% in the last 30 days.
The coin has struggled to find support, trading below $1 for more than a week and hovering near its all-time lows.
A strong rebound could push MELANIA to $0.94 and $1.296, with further momentum driving it to $1.39 and potentially $1.61 for the first time since February 6.
On the downside, if the selloff continues, MELANIA could break below $0.795 and $0.763, with a drop under $0.7 setting new record lows.
China’s recent directive for its state-owned banks to decrease reliance on the US dollar has amplified a growing trend among countries seeking alternatives to the dominant reserve assets. In some instances, Bitcoin has emerged as a viable competitor.
BeInCrypto spoke with experts from VanEck, CoinGecko, Gate.io, HashKey Research, and Humanity Protocol to understand Bitcoin’s rise as an alternative to the US dollar and its potential for greater influence in global geopolitics.
The Push for De-Dollarization
Since the 2008 global financial crisis, China has gradually reduced its reliance on the US dollar. The People’s Bank of China (PBOC) has now instructed state-owned banks to reduce dollar purchases amid the heightened trade war with US President Donald Trump.
China is among many nations seeking to lessen its dependence on the dollar. Russia, like its southern neighbor, has received an increasing number of Western sanctions– especially following its invasion of Ukraine.
Furthermore, Rosneft, a major Russian commodities producer, has issued RMB-denominated bonds, indicating a shift towards RBM, the Chinese currency, and a move away from Western currencies due to sanctions.
This global shift away from predominant reserve currencies is not limited to countries affected by Western sanctions. Aiming to increase the Rupee’s international use, India has secured agreements for oil purchases in Indian Rupee (INR) and trade with Malaysia in INR.
The country has also pursued creating a local currency settlement system with nine other central banks.
As more nations consider alternatives to the US dollar’s dominance, Bitcoin has emerged as a functional monetary tool that can serve as an alternative reserve asset.
Why Nations Are Turning to Bitcoin for Trade Independence
Interest in using cryptocurrency for purposes beyond international trade has also grown. In a notable development, China and Russia have reportedly settled some energy transactions using Bitcoin and other digital assets.
“Sovereign adoption of Bitcoin is accelerating this year as demand grows for neutral payments rails that can circumvent USD sanctions,” Matthew Sigel, Head of Digital Assets Research at VanEck, told BeInCrypto.
Two weeks ago, France’s Minister of Digital Affairs proposed using the surplus production of EDF, the country’s state-owned energy giant, to mine Bitcoin.
Last week, Pakistan announced similar plans to allocate part of its surplus electricity to Bitcoin mining and AI data centers.
Meanwhile, on April 10, New Hampshire’s House passed HB302, a Bitcoin reserve bill, by a 192-179 vote, sending it to the Senate. This development makes New Hampshire the fourth state, after Arizona, Texas, and Oklahoma, to have such a bill pass a legislative chamber.
If HB302 is approved by the Senate and signed into law, the state treasurer could invest up to 10% of the general fund and other authorized funds in precious metals and specific digital assets like Bitcoin.
According to industry experts, this is only the beginning.
VanEck Predicts Bitcoin to Become a Future Reserve Asset
Sigel predicts Bitcoin will become a key medium of exchange by 2025 and, ultimately, one of the world’s reserve currencies.
His forecasts suggest Bitcoin could settle 10% of global international trade and 5% of global domestic trade. This scenario would lead to central banks holding 2.5% of their assets in BTC.
According to him, China’s recent de-dollarization will prompt other nations to follow suit and lessen their reliance on the US dollar.
“China’s de-dollarization efforts are already having second- and third-order effects that create opportunities for alternative assets like Bitcoin. When the world’s second-largest economy actively reduces its exposure to US Treasuries and promotes cross-border trade in yuan or through mechanisms like the mBridge project, it signals to other nations—especially those with strained ties to the West—that the dollar is no longer the only game in town,” Sigel said.
For Zhong Yang Chan, Head of Research at CoinGecko, these efforts could prove catastrophic for the United States’ dominance.
“Broader de-dollarization efforts by China, or other major economies, will threaten the status of the dollar’s global reserve currency status. This could have [a] profound impact on the US and its economy, as this would lead to nations reducing their holdings of US treasuries, which the US relies on to finance its national debt,” he told BeInCrypto.
However, the strength of the US dollar and other dominant currencies has already shown signs of weakening.
A General Wave of Currency Decline
Sigel’s research shows that the four strongest global currencies—the US dollar, Japanese yen, British pound, and European euro—have lost value over time, particularly in cross-border payments.
The decline of these currencies creates a void where Bitcoin can gain traction as a key alternative for international trade settlements.
“This shift isn’t purely about promoting the yuan. It’s also about minimizing vulnerability to US sanctions and the politicization of payment rails like SWIFT. That opens the door for neutral, non-sovereign assets—especially those that are digitally native, decentralized, and liquid,” Sigel added.
This lack of national allegiance also sets Bitcoin apart from traditional currencies.
Bitcoin’s Appeal: A Non-Sovereign Alternative
Unlike fiat money or central bank digital currencies (CBDCs), Bitcoin doesn’t respond to any one nation, which makes it appealing to some countries.
For Terence Kwok, CEO and Founder of Humanity Protocol, recent geopolitical tensions have heightened this belief.
For these same reasons, experts don’t expect Bitcoin to replace fiat currencies fully but rather provide a vital alternative for certain cases.
A Replacement or an Alternative?
While Bitcoin offers several advantages over traditional currencies, Gate.io’s Kevin Lee doesn’t foresee its eventual adoption causing a complete overhaul of the currency reserve system.
Recent data confirms this. The number of Bitcoin transactions has fallen significantly since the last quarter of 2024. Bitcoin registered over 610,684 transactions in November, but that number dropped to 376,369 in April, according to Glassnode data.
The number of Bitcoin active addresses paints a similar picture. In December, the network had nearly 891,623 addresses. Today, that number stands at 609,614.
Bitcoin number of active addresses. Source: Glassnode.
This decline suggests reduced demand for its blockchain in terms of transactions, usage, and adoption, meaning fewer people are actively using it for transfers, business, or Bitcoin-based applications.
Meanwhile, the Bitcoin network must also ensure its infrastructure is efficient enough to meet global demand.
Can Bitcoin Scale for Global Use?
In 2018, Lightning Labs launched the Lightning Network to reduce the cost and time required for cryptocurrency transactions. Currently, the Bitcoin network can only handle around seven transactions per second, while Visa, for example, handles around 65,000.
“If expansion solutions (such as the Lightning Network) fail to become popular, Bitcoin’s ability to process only about 7 transactions per second will be difficult to support global demand. At the same time, as Bitcoin block rewards are gradually halved, the decline in miners’ income may threaten the long-term security of the network,” Guo, Director of HashKey Research explained.
While the confluence of geopolitical shifts and Bitcoin’s inherent characteristics undeniably create a space for its increased adoption as an alternative to the US dollar and even a potential reserve asset, significant hurdles remain.
Achieving mainstream Bitcoin adoption hinges on overcoming scalability, volatility, regulatory hurdles, stablecoin competition, and ensuring network security.
The unfolding panorama suggests Bitcoin will carve out an important role in the global financial system, though a complete overhaul of established norms seems unlikely in the immediate future.
