• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ripple shifts to RLUSD: Implications for XRP

user avatar

by Giorgi Kostiuk

a year ago


Crypto Eri (@sentosumosaba) recently shared a clip from an X Space where the future of XRP was discussed in light of Ripple's decision to use RLUSD.

Introduction

Crypto Eri (@sentosumosaba), a prominent voice in the crypto world, shared a clip from an X Space where prominent crypto figures discussed XRP. The discussion featured Mr. Intuitive, Dark Horse, and Vet, a validator on the XRP Ledger (XRPL).

Ripple’s Strategic Shift

Ripple President Monica Long recently revealed that the RLUSD stablecoin would be primarily used for settlement purposes. This decision has led to speculation about whether Ripple is moving away from XRP. Mr. Intuitive and Dark Horse voiced their differing opinions on this matter. Dark Horse argued that Ripple had 'given up' on XRP, relegating it to a bridging token. Mr. Intuitive countered that the shift to RLUSD indicated a new strategic focus rather than a total shift from XRP. Traditionally, XRP has served as a bridging currency, especially in low-liquidity areas. Ripple has been selling XRP to enhance liquidity and improve cross-border transactions. The introduction of RLUSD offers a more stable medium for liquidity and payments, potentially complementing XRP’s role.

Conclusion

Currently, Ripple is balancing the use of both XRP and stablecoins to establish a more stable and efficient payment infrastructure. This strategic move aims to meet various market needs by ensuring liquidity through XRP and providing stable payment solutions via RLUSD.

Ripple continues to evolve its ecosystem by leveraging both XRP and RLUSD to enhance payment and liquidity efficiency and stability. Key insights from the crypto community highlight the necessity of this diversification.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Brazil's House of Representatives Proposes National Bitcoin Reserve

chest

Brazil's House of Representatives is exploring the establishment of a national Bitcoin reserve through Bill No. 4,501 of 2024.

user avatarGustavo Mendoza

CryptoQuant Report Indicates XRP Trading Volume Stabilization

chest

A recent CryptoQuant report analyzes XRP trading volume, indicating a balance between buyers and sellers.

user avatarRajesh Kumar

Analysts Highlight Key Indicators for Bitcoin's Market Bottom

chest

Analysts highlight significant price-based benchmarks indicating Bitcoin is in a long-term accumulation phase, with key indicators suggesting a favorable position for long-term investors.

user avatarMiguel Rodriguez

Political Dynamics Threaten Progress of Clarity Act

chest

Scott Bessent warns that the upcoming midterm elections could jeopardize the progress of the Clarity Act, especially if Democrats gain a majority in the House.

user avatarLuis Flores

US Treasury Secretary Advocates for Clarity Act Amid Crypto Market Volatility

chest

US Treasury Secretary Scott Bessent emphasizes the need for the Clarity Act to stabilize the volatile crypto market.

user avatarArif Mukhtar

Bitcoin Market Faces Bearish Phase Amid Price Drop

chest

Speculations arise that the cryptocurrency market has entered a bearish phase following a significant drop in Bitcoin's price.

user avatarMaria Gutierrez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.