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XRP loses 3rd largest crypto spot as Ripple confirms postponing stablecoin launch.

Ripple confirmed that it has delayed the launch of its stablecoin. Meanwhile, the price of XRP has dropped, causing it to lose its recently-earned position as the third-largest cryptocurrency.

Ripple, widely known for its cross-border payments in the crypto space, has postponed the launch of its stablecoin, $RLUSD, as it awaits a final nod from the New York Department of Financial Services. In an official announcement on X, Ripple said, “$RLUSD isn’t launching today.” on Dec. 5.