Price Fluctuates 20% Before Stabilizing
Ripple USD (RLUSD) is officially launched on global exchanges. This enterprise-grade stablecoin combines the stability of fiat currency with the efficiency of blockchain technology. RLUSD will run on two networks: Ethereum and Ripple’s native XRP Ledger (XRPL). Initially, the price of the stablecoin fluctuated within a 20% range, but it was pegged to the U.S. dollar at a 1:1 ratio, ensuring long-term stability.
Ripple Chief Technology Officer David Schwartz It has previously said there could be supply shortages initially, leading to price fluctuations. However, once supply stabilizes, the price will quickly return to around $1.
He also said, “Since coming up with the idea of $RLUSD launching in a matter of hours a few months ago, I have been looking forward to enabling more use cases on XRPL and enabling more on-chain with trusted stablecoins like RLUSD Liquidity. There are countless opportunities for developers and users who want to benefit from XRPL, RLUSD, and XRP.”
The stablecoin will be listed on exchanges such as Uphold, Bitso and CoinMana, with more exchanges expected to be listed by the end of the year. Ripple’s stablecoin is fully compliant and backed by U.S. dollar deposits, government bonds, and cash equivalents. This provides stability and transparency that many stablecoins lack.
RLUSD aims to bridge the gap between traditional fiat currencies and cryptocurrencies, providing advantages such as instant cross-border payments, remittance liquidity, and seamless integration with DeFi protocols. This is huge for XRP and the broader crypto ecosystem.
Ripple’s stablecoin will be a game changer. It is backed by years of experience in financial systems, delivering a level of compliance and trust that is unparalleled today. As major partners and exchanges are expected to adopt RLUSD, RLUSD has the potential to challenge mainstream stablecoins such as Tether and USDC.
