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

David Sacks Appointed as Crypto Czar by Donald Trump to Lead AI and Blockchain Policies

The post David Sacks Appointed as Crypto Czar by Donald Trump to Lead AI and Blockchain Policies appeared first on Coinpedia Fintech News After Bitcoin reached the $100K milestone, Donald Trump made

XRP Price Prediction For December 6

The post XRP Price Prediction For December 6 appeared first on Coinpedia Fintech News Ripple’s XRP is currently trading below the $230 level and has slipped below into the red zone However, the

President-Elect Trump’s Message To Bitcoin Holders: Congratulations On Reaching $100,000

President-elect Donald Trump, now a vocal supporter of Bitcoin, took to social media to congratulate cryptocurrency holders on surpassing the $100,000 milestone for the first time in history Bitcoin

Putin Confirms Digital Ruble Integration in Russia’s Federal Budget

Russia is set to integrate its central bank digital currency (CBDC), the digital ruble, into its federal budget system starting next year, with nationwide adoption targeted by July 1, 2025, President

Ethereum Price Gears Up for $4,000: Higher Highs In Sight?

Ethereum price is rising from the $3,650 zone ETH is gaining pace and might soon aim for a move above the $3,950 resistance zone Ethereum remained in a positive zone and stayed above the $3,680 zone

SEC vs Crypto: Gary’s Final Strike on Crypto Before Departure

The post SEC vs Crypto: Gary’s Final Strike on Crypto Before Departure appeared first on Coinpedia Fintech News Gary Gensler is stepping down as SEC Chair on January 20, 2025 But before leaving, he