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Ripple’s RLUSD to Launch Tomorrow; XRP Price Surge Expected
Ripple, a leading player in cross-border payments, has officially announced the upcoming launch of its USD-backed stablecoin (RLUSD) scheduled for tomorrow, December 17, 2024. This news has sent shockwaves through the crypto market, with many analysts predicting a significant surge in the price of XRP.
As outlined on Ripple’s official platform, RLUSD is designed to provide stability, utility, and regulatory compliance. Each token will be fully backed by U.S. dollar deposits, government bonds, and cash equivalents, ensuring reliability and liquidity. The launch marks a critical step for the stablecoin sector, as the industry prepares for clearer regulations in the United States.
RLUSD’s compatibility with XRP Ledger and Ethereum is expected to drive global financial adoption by addressing key use cases such as instant cross-border payments, providing liquidity for remittance and treasury operations, and supporting DeFi protocols. This increased scalability and flexibility will open new opportunities for developers and users.
In anticipation of this launch, many analysts are forecasting a substantial increase in the price of XRP. Some predictions suggest that the token could reach up to $4.40 within two weeks, with some even speculating it may surpass $3.20 within the next 72 hours. At press time, the current price of XRP stands at $2.56 with a surge of 5.5% in the last 24 hours and 7.6% in the past hour.
It is essential to note that RLUSD’s launch on major platforms such as Uphold, Bitso, MoonPay, Archax, and CoinMENA will likely have a significant impact on XRP’s price. Further listings are expected on exchanges like Bitstamp, Bullish, Mercado Bitcoin, and others in the near future.
While the industry waits with bated breath for RLUSD’s official launch, it is crucial to monitor the market developments closely, as this event has the potential to reshape the cryptocurrency landscape.
Source: http://www.cryptonewsz.com
