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Ripple CTO Clarifies RLUSD Anomaly as XRP Price Jumps
In a recent statement, Ripple’s Chief Technology Officer (CTO), David Schwartz, has clarified the anomaly surrounding RLUSD, a proposed decentralized stablecoin. This clarification comes amidst significant market fluctuations and price jumps in XRP.
The proposed AMM pool, which is meant to stabilize the value of RLUSD, has been temporarily suspended due to rapid changes in market conditions. For two weeks from now, the market will have to manage without this mechanism, but it is seen as a step towards improving the stablecoin’s performance during turbulent periods.
Schwartz emphasized that the anomaly was not a cause for concern and that Ripple remains committed to its goal of creating a decentralized and reliable stablecoin. The CTO’s statement aimed to alleviate concerns among investors and users about the project’s future prospects.
RLUSD has been designed to help stabilize XRP’s price, but this role is expected to evolve as the stablecoin gains more adoption and recognition.
Source: u.today
