🟣Ripple is preparing to launch its stablecoin, RLUSD, pegged to the U.S. dollar at a 1:1 ratio. The company’s CTO, David Schwartz, cautioned about potential volatility and FOMO effects due to limited initial supply. Preliminary pre-market bids reached as high as $1,200, but the price is expected to stabilize at $1 as demand balances out.
🟣Ripple CEO Brad Garlinghouse announced that the New York Department of Financial Services has approved the issuance of RLUSD, which has driven an increase in XRP’s value. The new stablecoin is targeted at major lending institutions and adheres to strict regulatory standards.
🟣Analysts predict RLUSD’s market capitalization could reach $1.5–2 trillion by 2028.