Breaking: Ripple Stablecoin RLUSD Officially Goes Live
Ripple shakes the stablecoin market as RLUSD goes live on Ethereum and XRPL, XRP price sees dip before it pumps back up ๐ ๐
It recently became known that the stablecoin Ripple USD (RLUSD) from the eponymous San Francisco crypto company has been officially launched.
The stablecoin will work on two networks simultaneously โ at least that is the plan now. Those two networks are Ethereum and, of course, Ripple's "native" ledger, XRP Ledger (XRPL). All users can already officially interact with RLUSD.
On various decentralized exchanges, the price of the stablecoin initially fluctuated within a range of 20%, as Ripple USD is initially pegged to the U.S. dollar 1 to 1. However, according to XPMarket, the price of RLUSD has now settled at $1.
Ripple CTO David Schwartz recently warned of something like this, saying that there could initially be a shortage of stablecoin supply, which could lead to an increase in the price of the coin, which should literally be stable in price.
In the near future, we should expect Ripple USD to be listed on major exchanges such as Bitstamp or Mercado Bitcoin. However, services such as MoonPay are already offering stablecoin purchases via Apple Pay. A number of other off- and on-ramp services also work with RLUSD.
Heads up for RLUSD could be a game changer for XRP holders?
comment down below what do you think about it before XRP ๐๐ to the ๐$XRP