San Francisco-based Ripple is gearing up to release its RLUSD stablecoin, expected by the end of 2024. The XRP community is closely watching the developments.
Expectations and Preparations for RLUSD Launch
As the year draws to a close, the crypto community's expectations are rising for the release of the Ripple USD (RLUSD) stablecoin. Ripple's CEO previously stated that the launch is anticipated in 2024, with time running short for its debut.
Initial RLUSD Pricing
Despite its advanced listings on major exchanges and wallets within the XRP ecosystem, pricing anomalies have been observed for the stablecoin. One enthusiast noted that the price for 1 RLUSD is set at 511 XRP, equivalent to $1,231.
CTO's Commentary on Non-Stable Prices
Ripple's CTO, David Schwartz, clarified the situation regarding the elevated stablecoin price. He explained that during the early days post-launch and until the market stabilizes, a supply shortage might lead some to pay significantly higher than the nominal value.
Schwartz warns against FOMO, emphasizing that stablecoins are meant to have stable prices. Initial period fluctuations are possible but are swiftly corrected via market arbitrage opportunities.
