Ripple’s RLUSD Stablecoin Set to Launch Today, What’s Next for XRP?

Share This Post

XRP News

The post Ripple’s RLUSD Stablecoin Set to Launch Today, What’s Next for XRP? appeared first on Coinpedia Fintech News

The highly anticipated launch of Ripple’s dollar-pegged stablecoin, RLUSD, is expected to take place today, December 4, 2024. However, Ripple is reportedly awaiting approval from the New York Department of Financial Services, according to local media reports.

What is RLUSD?

Ripple USD (RLUSD), a 1:1 USD-backed stablecoin, offers transparency and stability on the XRP Ledger and Ethereum. With the launch of RLUSD, Ripple aims to leverage both its stablecoin and native token, XRP, to enhance its cross-border payment solutions.

At present, Ripple Labs has warned investors and institutions to avoid engaging with any token claiming to be RLUSD or Ripple USD before its official launch to prevent falling victim to scams. Despite this warning, RLUSD is currently listed on the cryptocurrency data platform CoinGecko.

Since August 2024, Ripple has been beta testing its RLUSD stablecoin on the XRP Ledger (XRPL) and Ethereum’s mainnet. The firm has shared plans to gradually expand RLUSD to more blockchains and DeFi protocols in the future.

Will RLUSD Impact XRP Price?

Despite the RLUSD launch, Ripple’s native token XRP, has already gained significant attention over the past week. Furthermore, experts anticipate a notable upward momentum for XRP once RLUSD becomes available on exchanges.

Currently, XRP is trading near $2.55 and has registered a price decline of 2.55% in the past 24 hours. During the same period, its trading volume dropped by $28%, indicating lower participation from traders and investors amid a bullish outlook.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto Investing Plan for 2025: Insights on Bitcoin, Alt Season, and Pro-Crypto Policies

The post Crypto Investing Plan for 2025: Insights on Bitcoin, Alt Season, and Pro-Crypto Policies appeared first on Coinpedia Fintech News Yesterday, the Bitcoin market crossed the level of $100K,

PNUT Memecoin Soars 13,000x: Trader Turns $450k to $8M

The post PNUT Memecoin Soars 13,000x: Trader Turns $450k to $8M appeared first on Coinpedia Fintech News Since the launch of the Solana (SOL)-based Peanut the Squirrel (PNUT), the memecoin has

As Bitcoin Trades Above $100K—Analysts Reveal What Could Be Next

Bitcoin has achieved a major milestone, trading at six-figure levels for the first time since its inception On Thursday, the cryptocurrency reached a new all-time high of $103,679, marking a

The Ultimate ‘I Told You So’: Community Celebrates $100K Bitcoin Milestone

Defying fiat currencies, naysayers, and bear markets, bitcoin, the premier cryptocurrency, has recently reached a milestone by breaking the $100k mark for the first time in its history Members of the

90% of token unlocks drive prices down, declines begin a month ahead

A recent Keyrock report highlighted that 90% of token unlocks exert negative price pressure, though the effects often take up to 30 days to materialize fully   Approximately $600 million of

$3 Billion in Bitcoin and Ethereum Options Expiring Today, Market Brace For Volatility 

The post $3 Billion in Bitcoin and Ethereum Options Expiring Today, Market Brace For Volatility  appeared first on Coinpedia Fintech News The crypto market is gearing up for a day of potential