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

Is EIGEN Going For Another Rally Or Drop?

The post Is EIGEN Going For Another Rally Or Drop appeared first on Coinpedia Fintech News One of the famous cryptocurrency Eigen Layer, is gaining attention in the crypto market It is one of the few

Immoral and Unconstitutional: D.O.G.E. Advisor Ron Paul Calls for the Elimination of Foreign Aid

Ron Paul, former presidential candidate and soon-to-be-appointed advisor to Elon Musk’s DOGE, has called for the elimination of foreign aid, labeling it as immoral and unconstitutional Vivek

Bitcoin Displaying a Bearish Divergence Is This a Matter of Concern for the BTC Price Rally?

The post Bitcoin Displaying a Bearish Divergence Is This a Matter of Concern for the BTC Price Rally appeared first on Coinpedia Fintech News Ever since the Bitcoin price smashed a new ATH above

Memecoin Trader Deposits Over 121 Million PEPE Tokens To Binance!

The post Memecoin Trader Deposits Over 121 Million PEPE Tokens To Binance! appeared first on Coinpedia Fintech News A smart trader has bagged massive gains through its memecoin bet recently As per

Bitcoin Set For Another Surge Beyond $100,000 Level – Here Are The Next Potential Targets

Excitement and speculations about a notable price spike for Bitcoin, the largest digital asset following its recent ascent to the $100,000 level, are emerging rapidly within the crypto community,

Don’t Be Surprised If Dogecoin Hits $1 Or $2 ‘In A Hurry’, Says Crypto Analyst

Crypto analyst Cantonese Cat (@cantonmeow) suggests a scenario in which Dogecoin could reach $1 or even $2 relatively quickly Posting on X, the analyst stated: “DOGE closed 3 weeks in a row above