RLUSD stablecoin launched by Ripple, the company behind XRP is making big waves in the cryptocurrency market. RLUSD stablecoin is pegged to the US dollar.
Ripple, the force behind XRP cryptocurrency, is making impressive strides. They’ve introduced a fresh digital currency called RLUSD, which is tied to the US dollar. The goal? To facilitate quicker and more cost-effective money transfers.
Additionally, Ripple is exploring the creation of an XRP ETF, a move that could draw more investors to XRP is officially recognized as a tradeable asset, not a security. Riding this momentum, Ripple is launching both an XRP ETF and a stablecoin called RLUSD, which is pegged to the US dollar. The expectation? A positive impact on the market.
RLUSD Stablecoin: Complementing XRP
Ripple has launched a fresh addition to its blockchain solutions: the RLUSD stablecoin. This new digital currency is designed to make money transfers faster and more cost-effective. The primary goal of RLUSD is to enhance XRP’s utility and market presence.
By providing a stablecoin pegged to the US dollar, Ripple aims to optimize efficiency in major payment corridors where liquidity is abundant, such as USD to EUR transactions.
The XRP ETF Buzz
Monica Long, the president of Ripple, recently made a confident claim: XRP has consistently ranked among the top 10 cryptocurrencies for quite some time. This strong performance has significantly increased the likelihood of an XRP exchange-traded fund (ETF).
Investors are expected to take keen interest in an XRP ETF because of its versatile applications and potential influence on the market. In a similar vein, Collin Brown, a crypto enthusiast, expressed a similar sentiment on Twitter.
Legal Clarity and Ripple’s Strategy
Ripple, the company aiming to be a major player in blockchain infrastructure, is making significant progress. Ripple, the company striving to be a major force in blockchain infrastructure, is making impressive headway.
Recent legal rulings in the United States have officially classified XRP as a commodity. This clear status paves the way for exciting new opportunities in how XRP can be utilized and advanced within the country.
Market Impact
XRP, currently priced at $0.4767, has seen a 1.65% increase in the last 24 hours. However, over the past week, it dipped by 2.73%. The upcoming launch of both the XRP ETF and the RLUSD stablecoin is expected to create a significant market impact.
Also Read: XRP News: Price Fails To Ignite to $0.47, Downward Risk
