Ripple's CTO David Schwartz has cautioned the XRP community regarding potential availability issues with the new RLUSD stablecoin. The discussion started following reports of XRP being priced at $1,200 per token.
Reasons for the Surprise RLUSD Price Surge
The exorbitant $1,200 price tag for XRP is due to a buyer wanting to claim the first purchase of RLUSD. Schwartz confirmed that such behavior is driven by interest in the new token and does not reflect the real market value.
FOMO Warnings and Price Stabilization
David Schwartz cautions against participating in the hype around RLUSD. He emphasized that this is not an opportunity for quick wealth and that prices will stabilize soon after launch. 'Short-term changes in prices due to supply or demand shortages are possible, especially around launch, but they shouldn't last long as arbitragers quickly fix the market,' Schwartz explained.
Regulatory Approval and Launch Prospects
The RLUSD stablecoin recently received approval from the New York State Department of Financial Services, but it has yet to appear on the official site. The product's launch is expected soon, marking a significant step following Ripple's April announcement.
While discussions around RLUSD continue actively, the stability of its price and regulatory approvals represent logical steps for the successful opening of Ripple's new product.
