Ripple Utilizes Chainlink for Accurate RLUSD Data

user avatar

by Giorgi Kostiuk

2 years ago

Ripple takes a significant step by integrating Chainlink's blockchain technology to provide accurate pricing data for its RLUSD stablecoin.

Ripple and Chainlink Integration

Ripple has integrated Chainlink's blockchain technology to provide accurate pricing data for its RLUSD stablecoin. RLUSD is a USD-backed virtual currency developed for secure and fast payments, backed on both Ledger and Ethereum blockchains.

Significance of Chainlink Technology

For RLUSD to be effective in DeFi applications like lending or trading, accurate pricing data is crucial. Chainlink provides this through a decentralized network of oracles that connect blockchain applications with real-world data, reducing inaccuracies and minimizing manipulation risks. Ripple chose Chainlink for its proven security and reliability.

Current XRP Movement

At the time of writing, the price of XRP is hovering around $2.29, down 2.67% in the last 24 hours. On January 6, XRP's open interest surged by over 40% from 1.09 billion to 1.53 billion XRP. This increase indicates new liquidity flow, highlighting a bullish sentiment for XRP. Positive flows in XRP investment products were also noted.

The integration of Chainlink showcases Ripple's commitment to ensuring the reliability and accuracy of its RLUSD stablecoin, thereby strengthening its position in the DeFi space.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

AI Researchers Reduce Quantum Attack Resource Benchmark by 86 Times

chest

Researchers have reduced the computing resources needed for a potential quantum attack on Bitcoin and Ethereum by 86 times.

user avatarJesper Sørensen

Regulators Urge Faster Cybersecurity Measures in Banking Sector

chest

Regulatory bodies are urging banks to adopt quicker patching and incident response strategies to combat evolving cyber threats.

user avatarRajesh Kumar

Advanced AI Accelerates Cyberattack Risks for Banks

chest

A new paper highlights the increasing threat posed by advanced AI to banks' cybersecurity, emphasizing the need for faster software repairs.

user avatarLucas Weissmann

US Stock Market Faces Turmoil Amid Rising Bond Yields and Oil Prices

chest

The US stock market is facing significant declines due to rising bond yields and increasing oil prices, influenced by geopolitical tensions.

user avatarFilippo Romano

Zoomex Launches World Trading Championship 2026 with Record Prize Pool

chest

Zoomex announces the launch of the World Trading Championship 2026 with a record prize pool of 5,000,000 USDT, featuring an expanded multi-asset competition format.

user avatarEmily Carter

Meta Platforms' Shares Surge Following AI Assistant Launch

chest

Meta Platforms' shares rose over 6% after the launch of its AI assistant, Muse, which helps users manage tasks and goals.

user avatarTomas Novak

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.