news 
RLUSD at $1,200? Ripple Exec Names Reason Behind Sky-High Price
Ripple’s new stablecoin product, RLUSD, has generated significant interest in the cryptocurrency market. According to recent reports, it is expected that the price of RLUSD will stabilize very quickly following its launch. This raises questions about the potential price of RLUSD and whether it could potentially reach $1,200.
In a recent statement, Ripple executive Schwartz provided insight into why he believes this may be possible. “Short-term changes in prices due to shortages of supply or demand are certainly possible, especially around launch,” he explained, “but they shouldn’t remain for very long as arbitragers rapidly fix the market.”
Schwartz’s comments suggest that the company is not ruling out the possibility of RLUSD reaching a high price point. However, it is important to note that this would be dependent on various factors such as the level of interest in the new stablecoin and the overall stability of the cryptocurrency market.
It is also worth noting that Ripple has recently gained regulatory approval from the New York State Department of Financial Services (NYDFS) for its new product. The company believes that RLUSD will offer a more robust and secure platform for transactions, which could attract even more users and increase its value.
While it’s difficult to predict with certainty whether RLUSD will reach $1,200 in the near future, Schwartz’s comments suggest that there is at least some possibility of this happening.
Source: u.today
