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Breaking: Ripple Stablecoin RLUSD Officially Goes Live
The crypto market has witnessed numerous instances of both success and failure in the stablecoin segment throughout its history. However, it is now predicted that this niche will exceed $2.3 trillion in the coming years. Given this prediction, it’s intriguing to consider where and how Ripple USD will fit in.
As of recently, Ripple announced that their new stablecoin RLUSD has officially gone live. This move comes at a time when the market is witnessing an unprecedented surge in demand for stablecoins due to growing concerns about crypto market volatility.
The ripple effect: A closer look at RLUSD
RLUSD, which stands for Ripple USD, aims to provide a secure and reliable store of value by pegging its value directly to that of the US dollar. This ensures that RLUSD’s price remains consistently tied to the USD, thus reducing the impact of market fluctuations.
Ripple has made significant progress in recent months, with their flagship XRP token already demonstrating significant growth as well.
Source: u.today
