#MarketSentimentToday
XRP should benefit from Ripple stablecoin's gas use: cryptocurrency analyst
CEO Brad Garlinghouse says Ripple stablecoin will emerge in weeks.
Analyst: RLUSD stablecoin gas transactions might boost XRP.
Tuesday, XRP drops to $0.53.
Ripple USD, its stablecoin, was launched lately by Ripple (XRP). CEO Brad Garlinghouse indicated the asset's debut is weeks away in an interview at Korea Blockchain Week in early September.
XRP trades at $0.5387, as traders await RLUSD introduction.
The gas token XRP and RLUSD introduction might boost ledger activity and help the altcoin.
Analysts predict cryptocurrency demand to boost XRP.
While institutional investors' on-demand liquidity seldom affects price, gas token demand might boost it.
In a September 4 fireside talk at Korea Blockchain Week, Brad Garlinghouse announced Ripple stablecoin would debut in weeks.
In a recent tweet, CTO David Schwartz said RLUSD would be accessible only to institutions and likened it to Circle's stablecoin, USDC, and Tether's USDT.
Ripple is falling. The cryptocurrency may fall below $0.5026, its September 6 low. XRP fell 6.7% from its current pricing. Momentum indicator MACD confirms the negative viewpoint.
Red MACD histogram bars beneath the neutral line indicate XRP price weakness.
A daily candlestick close above $0.6000, XRP's psychological threshold, might disprove the bearish argument. XRP may target the Fair Value Gap (FVG) upper barrier at $0.6217, its July 31 low.
