According to Deep Tide TechFlow news on December 16, Cointelegraph reported that Ripple's Chief Technology Officer David Schwartz tweeted that the company's upcoming dollar stablecoin RLUSD may experience a 'supply shortage' at launch, urging investors to remain rational and not to FOMO into buying.
Currently, on the Ripple ecosystem wallet Xaman, traders have posted buy orders for RLUSD as high as $1,200 (approximately 511 XRP). In response, Schwartz explained that this high price phenomenon is merely because someone wants to earn the 'honor' of the first transaction, emphasizing that the price of RLUSD will ultimately return to its $1 peg value.
On December 11, Ripple CEO Brad Garlinghouse announced that RLUSD has received final approval from the New York Department of Financial Services (NYDFS), with officials stating it will be 'released soon.'
