Following the enactment of the GENIUS Act, Versan Aljarrah, co-founder of Black Swan Capitalist, asserted that Ripple’s stablecoin, RLUSD, is poised to become a crucial tool for the U.S. Treasury in propagating the global digital dollar. Aljarrah highlighted that RLUSD, backed by the U.S. dollar, Treasury bills, and other cash equivalents, aligns with the GENIUS Act. Furthermore, the XRP Ledger offers a neutral, trustless liquidity layer, enabling real-time cross-border settlements for global trade. Presently, Tether dominates the market with a $161 billion valuation, while RLUSD is valued at $527 million, and XRP trades at $3.43 after peaking at $3.65. According to Aljarrah, increased regulatory scrutiny will drive capital towards fully compliant coins.
Regulatory Advantages for RLUSD and XRP
Versan Aljarrah claimed via his X account that the passage of the GENIUS Act through the House and its signing by Donald Trump clarifies the stablecoin framework in the U.S., offering Ripple’s RLUSD a strategic position. The fully compliant nature of RLUSD’s reserves constitutes a central argument in his statements. He described the XRP Ledger as a neutral, trustless infrastructure for global consensus. By tokenizing U.S. debt and integrating it into XRP’s liquidity layer, RLUSD will facilitate real-time cross-border payments, marking a paradigm shift in the post-SWIFT world.
The analyst noted Ripple 
$1’s continued issuance of new RLUSD units as indicative of potential scaling capability. He also mentioned the possibility of a gold-backed stablecoin on XRP, arguing that after laying a regulatory foundation, a Treasury-backed gold stablecoin phase could redefine trust.
Tether’s Dominance Under Threat
Aljarrah acknowledged the vast difference in the stablecoin market, where USDT stands at $161 billion compared to RLUSD’s $527 million. He predicted that heightened regulatory pressure will curtail off-the-record issuance models, prompting capital to shift towards compliant stablecoins with transparent reserves. His forecast was underscored by statements such as “The offshore game is over” and “Tether’s shadow bank and liquidity provider days are numbered.” Aljarrah interpreted Tether’s plan to launch a U.S.-based stablecoin amidst regulatory clarity pursuits as an acknowledgment of regulatory pressures.
Aljarrah emphasized that as regulatory frameworks reshape the market structure, RLUSD and XRP will leverage their speed, transparency, and compliance attributes. He believes that as regulatory intensity increases, capital will inevitably gravitate towards regulation-compliant coins. Moreover, he expects the combination of XRP’s liquidity layer and RLUSD’s reserve composition to erode Tether’s market share.
