Ripple is Back Further than Other Crypto Projects by Launching Its Newest Stablecoin, RLUSD

Ahead of its scheduled launch today, December 17, RLUSD has been a major spotlight of the crypto community, especially due to high market demand for stablecoins.

Jakarta - Ripple is leading the way among crypto projects with the launch of its latest stablecoin, RLUSD. Ahead of its scheduled launch today, December 17, RLUSD has been a major talking point in the crypto community, especially given the high market demand for stablecoins.

On-chain data shows that the bid for this token has surged drastically, moving from 500 XRP (around Rp8 million) to 836 XRP (around Rp13 million), with the current price of XRP pegged at around US$2.50 (Rp40,000).

David Schwartz, CTO of Ripple, couldn’t help but marvel at this phenomenon, highlighting that there are people who are willing to pay up to US$1,200 (around Rp19.2 million) for a small amount of RLUSD, as reported by Coin-Turk on Tuesday, December 17.

Read also:

Ripple CTO Warns Investors Against FOMO-ing on RLUSD

However, Schwartz noted that this pricing applies only to a limited batch of the tokens. He also went on to state that after the initial phase of the launch, the price of RLUSD should stabilize and trade close to the value of 1 US dollar (Rp16,000). If the price of this token continues to soar far from that figure, it could spell trouble in the long run.

With the high market interest, there are concerns that the price of RLUSD will experience sharp fluctuations during the first hours of its launch. This is because liquidity will be limited at the onset of the token's circulation.

However, as these tokens get listed on major exchanges like Uphold, MoonPay, Archax, and CoinMENA, liquidity is expected to increase, and the price of RLUSD could stabilize as intended.

(auf/auf)

Tag: crypto technology ripple stablecoin