Ripple, a leader in cross-border payments, recently announced on X, the official launch of its USD-backed stablecoin (RLUSD) to be scheduled tomorrow, December 17, 2024. RLUSD is designed to provide stability, utility and regulatory compliance, backed by Ripple’s years of expertise in both crypto and traditional finance.
RLUSD will debut on major platforms including Uphold, Bitso, MoonPay, Archax, and CoinMENA, with further listings expected soon on exchanges like Bitstamp, Bullish, Mercado Bitcoin, and others. Each RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, ensuring reliability and liquidity.
Brad Garlinghouse, Ripple CEO, highlighted the launch as a critical step for stablecoin sector, stating “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.”
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David Kratz, Ripple’s CTO expressed excitement about RLUSD’s launch in his recent tweet, and stated that he anticipates new use cases, increased liquidity, and opportunities for developers and users to leverage the XRP Ledger, RLUSD and XRP.
Ripple’s RLUSD to Drive Global Financial Adoption
Ripple’s RLUSD will 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.
XRP Price Impact
The launch of RLUSD is expected 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.
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Also read: Analyst Predicts XRP Price Will Hit $4.40 in Two Weeks!
