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Ripple’s RLUSD to Launch Tomorrow; XRP Price Surge Expected
Ripple, a pioneer in cross-border payments, has recently announced the official launch of its USD-backed stablecoin (RLUSD) set to take place tomorrow, December 17, 2024. The launch is expected to have a significant impact on the market, with analysts predicting a price surge for XRP.
RLUSD, designed to provide stability, utility, and regulatory compliance, will be fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents. This ensures reliability and liquidity. According to Ripple CEO Brad Garlinghouse, “As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.”
RLUSD is expected to address key financial use cases, such as facilitating instant cross-border payments, providing liquidity for remittance and treasury operations, and supporting DeFi protocols. Its compatibility with XRP Ledger and Ethereum ensures broad scalability and flexibility.
The launch of RLUSD is anticipated to have a significant price impact on XRP. According to analysts, the price of the token can reach up to $4.40 within two weeks and can reach up to $3.20 within the next 72 hours. At press time, the current price of the XRP token stands at $2.56 with a surge of 5.5% in the last 24 hours and 7.6% in the past hour according to CoinGecko.
The article highlights that Ripple’s RLUSD will be listed on major platforms including Uphold, Bitso, MoonPay, Archax, and CoinMENA, with further listings expected soon on exchanges like Bitstamp, Bullish, Mercado Bitcoin, and others.
Source: http://www.cryptonewsz.com
