Investors are closely watching the upcoming launch of Ripple’s stablecoin RLUSD, speculating on its potential impact on XRP pricing. While some analysts expect XRP to rise to $2, others see a more feasible target around $1.
What impact could RLUSD have on XRP?
The revelation of Ripple’s partnership with RLUSD has sparked excitement and speculation among traders about its potential impact on XRP market behavior. Given XRP’s volatility amid the ongoing SEC lawsuit against Ripple, the stablecoin’s launch is expected to have a significant impact.
Ripple recently announced its collaboration with major platforms like Bitstamp, CoinMEAN, and MoonPay, among others, to launch the stablecoin. Although the exact launch date has not been revealed, Ripple is ready to launch RLUSD globally once it secures the necessary regulatory approvals.
What does the XRP price chart indicate?
The current XRP price trend is showing little activity around the annual volume weighted average price (VWAP). If Ripple continues to shoot RLUSD, a breakout above key price levels could occur, targeting an initial level at $0.635.
Stablecoins are essential to improving blockchain applications, especially in cross-border transactions.
The CEO of Uphold has asserted that stablecoins can replace traditional currencies with the implementation of clear regulations.
If XRP’s participation in RLUSD is limited, it may face downward price pressure, possibly dropping to $0.5055.
The path of XRP price after the launch of RLUSD will largely depend on XRP’s position within the stablecoin ecosystem and broader market dynamics. Investors are adjusting their strategies in anticipation of the launch outcome.
