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 XRP Still Worth It? Lark Dewis Weighs In

The post Is XRP Still Worth It Lark Dewis Weighs In appeared first on Coinpedia Fintech News Lark Dewis, an entrepreneur and crypto investor, has recently taken to X to share his views on whether XRP

Michael Saylor Said Bitcoin Price Could Crash By 80%: A Theoretical Risk or Reality?

The post Michael Saylor Said Bitcoin Price Could Crash By 80%: A Theoretical Risk or Reality appeared first on Coinpedia Fintech News Michael Saylor, the executive chairman of MicroStrategy, has been

Ethereum To Pull A BTC 2021-Like Rally? Analyst Shares Massive Prediction

As Bitcoin finally soars above the long-awaited $100,000 milestone, Ethereum (ETH) attempts to break out from a key resistance zone The second-largest crypto rally has fueled optimism about its

Solana eyes transaction boost with proposed block compute increase

Solana developers have proposed increasing the network’s block compute limit from 48 million to 50 million units to handle more transactions and enhance network efficiency According to details

Helium Price Jumps 78% in 13 Days, HNT Price To Hit New 52-week High?

The post Helium Price Jumps 78% in 13 Days, HNT Price To Hit New 52-week High appeared first on Coinpedia Fintech News Story Highlights With a 24-hour jump of ~8%, the HNT price records a new 9-month

5 Million Players Are Collecting Whale Token Before the Launch

PRESS RELEASE The team behind Whaleio, one of the standout TON blockchain’s all in one entertainment platform, is preparing for a fair launch of their highly anticipated token As part of this