𝐑𝐢𝐩𝐩𝐥𝐞'𝐬 𝐜𝐡𝐢𝐞𝐟 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐨𝐟𝐟𝐢𝐜𝐞𝐫, 𝐃𝐚𝐯𝐢𝐝 𝐒𝐜𝐡𝐰𝐚𝐫𝐭𝐳, has recently warned the $XRP community about potential supply shortages of the upcoming RLUSD stablecoin. This comes after reports that Xamax, a popular $XRP wallet, displayed an astonishing price of $1,200 for RLUSD, with someone actually willing to pay such a premium for a fraction of a token. Schwartz clarified that this inflated price likely reflects someone's desire to be the first to purchase RLUSD, emphasizing that it is not indicative of the coin's future value.
While the price spike may seem dramatic, Schwartz reassured the community that the price of the stablecoin will stabilize shortly after its official launch. He made it clear that if the price does not adjust in a reasonable time frame, it would indicate a serious problem. He also cautioned against rushing into RLUSD in hopes of making quick profits, explaining that such price surges are temporary and tied to supply and demand imbalances, particularly at launch. Arbitrage opportunities will likely correct these short-term fluctuations swiftly.
The $RLC USD stablecoin, which was recently approved by the New York State Department of Financial Services (NYDFS), is expected to launch soon, though it has not yet appeared on the NYDFS list of greenlisted coins. The stablecoin’s approval from a major regulatory body is a significant step forward, and it is anticipated that its official debut will be closely tied to this regulatory milestone.
Ripple initially introduced the concept of RLUSD in April, and with the greenlight from NYDFS, the project is now set for launch. Investors and the XRP community are watching closely, but Schwartz's advice remains clear: while the stablecoin presents an exciting opportunity, it is not one for speculative gains in the short term. The market is expected to stabilize rapidly, providing a more predictable value for RLUSD once it becomes widely available.
