RLUSD Launch Price Prediction: Here’s What Industry Leaders Are Saying
Post RLUSD launches price predictions: This is what industry leaders say first appeared in Coinpedia FinTech News
Ripple will launch its USD-backed stablecoin RLUSD on December 17, 2024. The stablecoin will initially be available on platforms such as Uphold, MoonPay, CoinMENA, Bitso and Archax, with plans to expand to more exchanges in the future. Backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, RLUSD provides transparency through monthly third-party audits of its reserves.
While RLUSD is designed to always hold a value of $1, some collectors are already bidding on it on the on-chain market, bidding as much as 836 XRP ($2,068) ahead of its release (as reported by Coindesk). This early demand may cause temporary price fluctuations, as RLUSD may not have enough liquidity to immediately maintain its peg to $1.
Himanshu Maradiya, chairman and founder of CIFDAQ, told Coinpedia, “Ripple’s RLUSD stablecoin, pegged to $1, has attracted significant attention ahead of its launch, with on-chain bids soaring to $2,000. This pre-launch frenzy reflects supply Limited and demand increases as speculators rush to get their hands on the first batch of RLUSD tokens.”
He added, “While such elevated prices may raise eyebrows, volatility is expected to stabilize as liquidity normalizes post-issuance, bringing prices closer to $1. As RLUSD will be listed on the XRP Ledger “Ripple’s entry into the stablecoin market marks a critical moment that will enhance utility, drive liquidity and strengthen the role of stablecoins in cross-border payment solutions.”
XRP price expected to reach new highs:
XRP has been rising since news of the RLUSD launch was announced and is currently trading near $2.60. Experts say that XRP bulls may break above the previous high once RLUSD goes online. However, XRP has been facing significant resistance at $3, and it remains to be seen if the altcoin can break through this critical barrier today.
