Blockchain payment giant Ripple has once again stirred up the market! On December 17, the Ripple USD (RLUSD) stablecoin was officially launched. This highly anticipated stablecoin has not only been approved by the New York Department of Financial Services (NYDFS), but is also seen as a direct challenge to USDC and USDT. As Ripple enters the stablecoin market, the price trend of XRP has also ignited investors' enthusiasm: Will it go to the next level?
RLUSD Stablecoin: Ripple’s “New Killer Weapon”
RLUSD is a 1:1 pegged stablecoin fully backed by USD reserves, including short-term US Treasuries and cash equivalents. Initially, this stablecoin will be deployed on XRP Ledger and Ethereum mainnet, and plans to gradually expand to more blockchain networks and DeFi protocols.
Ripple said that the core design of RLUSD is to promote real-time cross-border payments to solve the exchange rate fluctuation problem in fiat currency transactions. At the same time, Ripple said it will publicly disclose the reserve proof audited by a third party every month to ensure liquidity transparency and user confidence.
In addition, Ripple invited heavyweight advisors to form a committee, including former FDIC Chairman Sheila Bair and Ripple co-founder Chris Larsen, vowing to implement regulatory compliance and responsible innovation to the end.
XRP Bullish: From RLUSD Launch to All-Time Highs
With the launch of the RLUSD stablecoin, XRP is on a roll! Since November, XRP’s market cap has soared, now surpassing USDT to become the third-largest cryptocurrency by market cap. In the past 30 days, XRP’s price has soared by more than 121%, hitting a 7-year high of $2.89 on December 12.
Not only that, the number of active accounts on XRP Ledger is also growing rapidly, surging 278% between November and December, reflecting the explosive increase in network participation and ecological vitality.
Market rumors have it that Ripple may use its custodial XRP reserves to support the liquidity of RLUSD. This operation may not only reduce the market circulation of XRP, but also further consolidate the ecological foundation of XRP Ledger.
Can XRP break through its all-time highs in the future?
Market opinions are divided on where XRP will go next. Some analysts believe that Ripple is brewing a big move: the US spot XRP ETF may become a new price engine! Several asset management companies, including WisdomTree and 21Shares, have filed applications with the U.S. SEC. If this event comes true, it will significantly increase XRP’s market liquidity and price elasticity.
Crypto analyst Jacob Canfield is even more optimistic, saying that according to the Fibonacci expansion theory, the price of XRP may reach $6.60 during the bull market FOMO phase, which is almost twice the historical high! However, before hitting a new high, XRP may briefly fluctuate in the $2.75-3.00 resistance range.
Summary: Ripple sets the pace, XRP leads the charge!
The launch of RLUSD marks an important step for Ripple in the field of stablecoins, and may become a "game changer" in the next stage of the global payment landscape. Can XPR continue to write the "surge myth" with the help of the stablecoin ecosystem and ETF prospects? Let's wait and see!
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