The cryptocurrency market has witnessed significant developments in the past 24 hours, with Ripple revealing the ticker symbol for its upcoming stablecoin, Shiba Inu receiving praise from Forbes, and Coinbase experiencing a massive outflow of Ethereum. These events have generated considerable interest and speculation within the crypto community.

Ripple's stablecoin, dubbed RLUSD, is expected to launch soon, pending the necessary licenses. The fintech giant has been cautious in its approach, likely due to the ongoing legal battle with the SEC. The stablecoin will be backed by the US dollar and issued on the XRP Ledger.

Shiba Inu, the popular meme token, has been recognized by Forbes as a standout example of a cryptocurrency with real utility and technological advancements. The token's marketing lead, Lucie, expressed enthusiasm for the recognition, which reflects the hard work of the SHIB developers.

Meanwhile, Coinbase has seen a significant outflow of Ethereum, with over $1 billion worth of ETH withdrawn from the platform. This has sparked speculation about the potential launch of Ethereum spot ETFs, similar to the Bitcoin spot ETFs introduced earlier this year.

These developments highlight the dynamic nature of the cryptocurrency market, with new innovations and advancements emerging regularly. As the market continues to evolve, it is likely that we will see further growth and adoption of digital assets.