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Ripple Launches New Stablecoin RLUSD
Exciting news from Ripple! 🚀 Ripple has confirmed the launch of its new stablecoin, RLUSD, on both the XRP Ledger and the Ethereum main chain. This move, announced by Ripple CTO David Schwartz, aims to meet the growing demand for stablecoins and leverage Ripple's expertise in cross-border payments.
RLUSD: Ripple’s Strategic Move
Launching RLUSD on two major platforms – the XRP Ledger and Ethereum – is a smart move to tap into the increasing demand for stablecoins. David Schwartz’s announcement clears up any confusion about the launch platforms, giving investors and stakeholders clear information. 💡
Reece Merrick, Ripple's Managing Director for the Middle East and Africa, highlighted the significance of RLUSD in the stablecoin market. He predicts the industry will grow from its current $150 billion valuation to a whopping $2.8-$3 trillion by 2028. 📈 With this launch, Ripple is well-positioned to capitalize on this anticipated market boom.
XRP Current Market Position: A Brief Overview
Here's a quick look at XRP's current market status:
- **Price:** $0.49139
- **24-hour trading volume:** $5.052 million
- **Price changes:**
- -3.0% in 30 days
- +2.4% in 7 days
- -1.8% in 24 hours
At the start of 2024, XRP was priced around $0.6295. It hit a low of $0.50233 on February 4th and peaked at $0.72301 on March 11th. 📉 After that peak, the price fell and moved sideways for a few weeks. On April 12th and 13th, the price dropped sharply to $0.47939. It climbed back to over $0.5566 on April 22nd but has since weakened, reaching a low of $0.4743 on June 14th. Today’s price of $0.49139 is slightly better than this recent low but still below its previous highs. 📊
