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

Bitcoin 30-Day Trader Profits Back In ‘Healthy’ Range, Is BTC Ready For $100,000?

On-chain data shows the unrealized gains of the 30-day Bitcoin investors are now back inside the historical ‘healthy’ zone, a sign that could be bullish for BTC Bitcoin MVRV Ratio For

Ethereum Whale Turns Extremely Bullish On $ETH Tokens!

The post Ethereum Whale Turns Extremely Bullish On $ETH Tokens! appeared first on Coinpedia Fintech News A whale named “kamisatoayakaeth” has expressed its optimism on the largest altcoin

Ethereum ETF Records 4,363% Increase In November 2024!

The post Ethereum ETF Records 4,363% Increase In November 2024! appeared first on Coinpedia Fintech News During November, which was considered to be the most bullish month ever, the nine Ethereum

Framework Ventures Deposits 6.5 Million $SNX Tokens!

The post Framework Ventures Deposits 65 Million $SNX Tokens! appeared first on Coinpedia Fintech News As per the latest news, Framework Ventures which is the largest single Synthetix holder and

Is Altcoin Season Here to Stay? Raoul Pal’s Take on Bitcoin, Ethereum & Dogecoin

The post Is Altcoin Season Here to Stay Raoul Pal’s Take on Bitcoin, Ethereum & Dogecoin appeared first on Coinpedia Fintech News The cryptocurrency market is experiencing a surge, led by

Ethereum and Bitcoin ETFs Crush Records Before BTC’s Six-Figure Breakthrough

On Wednesday, ahead of bitcoin’s thrilling leap to $100,000, US spot bitcoin exchange-traded funds (ETFs) pulled in a hefty $55682 million in new inflows Not to be outdone, the nine US spot