Ripple's plans to launch a new stablecoin come amid an effort to balance XRP's fan base and Ripple's institutional customers. Facing legal problems, especially the SEC's threat of a $2 billion fine against Ripple, Ripple seems to be attempting to correct its financial statements with this move. However, this sudden launch also draws attention in the stablecoin field, where there is serious competition in the market.
Ripple CEO Brad Garlinghouse thinks that the success of the stablecoin will depend on the market size and states that he is optimistic about this. However, Ripple's decision brings with it some concerns within the XRP community. In particular, uncertainties about the future of XRP and questions about what position this new move will take in the market arise.
There is a lot of speculation about the impact of Ripple's stablecoin launch on XRP. When the launch announcement was made, the price of XRP quickly increased by 10%. However, it remains unclear how this new stablecoin will affect XRP's position in the market by increasing XRP's benefits and strengthening its liquidity. Some suggest that this move could increase XRP's profile and positively impact its price by increasing investor confidence.
Currently, XRP is trading around $0.59 and is up 3% in the last 24 hours. However, as more details about the stablecoin plans emerge, market participants will closely monitor XRP's performance and wait to see the impact of this new product on the XRP price.