BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Everything You Need to Know About the Ripple RLUSD Stablecoin and How It Could Affect XRP Price

by Sham
December 17, 2024
in CRYPTO
Reading Time: 3 mins read
A A
37
SHARES
616
VIEWS
Share on XShare in TelegramShare on Reddit

• Ripple’s stablecoin RLUSD has officially launched on Ethereum and XRP Ledger (XRPL)
• RLUSD’s price initially fluctuated within a 20% range before settling at $1, leading to a temporary 2.2% drop in XRP price
• Major exchanges like Bitstamp and Mercado Bitcoin are expected to list RLUSD soon, while services like MoonPay already offer RLUSD purchases

Ripple, the renowned San Francisco crypto company, has officially launched its stablecoin, Ripple USD (RLUSD), creating a significant shift in the stablecoin market. The RLUSD will operate on two networks, Ethereum and Ripple’s native ledger, XRPL, allowing users to interact with RLUSD officially.

JUST IN: Ripple $XRP stablecoin $RLUSD is officially live 🚀 pic.twitter.com/fgKVfJwrhN

— BlockNews (@blocknewsdotcom) December 17, 2024

RLUSD’s Initial Market Fluctuation

Upon its introduction on various decentralized exchanges, the price of RLUSD experienced a notable fluctuation within a range of 20% as it was initially pegged to the U.S. dollar at a 1 to 1 ratio. However, according to XPMarket, the price of RLUSD has now steadied at $1.

Ripple CTO’s Warning on Stablecoin Supply

Ripple CTO, David Schwartz, had earlier cautioned about a potential initial shortage of stablecoin supply. This scarcity could lead to a hike in the price of the coin, contradicting its intended stability in pricing.

Impact on XRP Price

Intriguingly, the launch of the stablecoin resulted in a sharp drop of over 2.2% in the price of XRP, coming down to $2.635 per token at one point. This decline is likely attributed to users exchanging their cryptocurrency for RLUSD, either for testing purposes or due to the surrounding hype. However, the XRP rate has started to recover and is gradually turning green.

Future Expectations for RLUSD

In the foreseeable future, RLUSD is expected to be listed on major exchanges like Bitstamp or Mercado Bitcoin. Meanwhile, services such as MoonPay have already begun offering stablecoin purchases via Apple Pay. Several other off- and on-ramp services are also facilitating transactions with RLUSD.

The Stablecoin Market Outlook

The cryptocurrency market has seen numerous successes and failures in the stablecoin sector. Predictions suggest that this niche could surpass $2.3 trillion in the upcoming years. How and where Ripple USD will position itself in this landscape remains a topic of interest.

Tags: ethereumrippleRLUSDStablecoinxrp
Tweet9ShareShare
Previous Post

Solana Meme ‘Retardio’ X Suspended After Warning From UK FCA Regulators: What Happened?

Next Post

Trader Loses $10K in Seconds Attempting to Snipe the PENGU Token Launch

DON'T MISS THESE! HOT OFF THE PRESS

Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme
CRYPTO

Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme

July 1, 2025
FARTCOIN Surges 148%—Is the Meme Just the Beginning?
CRYPTO

FARTCOIN Surges 148%—Is the Meme Just the Beginning?

July 1, 2025
PEPE Pops 17%—But Is This Meme Rocket Just Getting Started?
CRYPTO

PEPE Pops 17%—But Is This Meme Rocket Just Getting Started?

July 1, 2025
Stellar’s Back on the Radar as Price Eyes Breakout Toward $0.485
CRYPTO

Stellar’s Back on the Radar as Price Eyes Breakout Toward $0.485

July 1, 2025
Chainlink Pops 12% as Mastercard Deal Sparks Fresh Bull Run
CHAINLINK

Chainlink Pops 12% as Mastercard Deal Sparks Fresh Bull Run

July 1, 2025
Token Unlock Tsunami? Solana, Dogecoin, SUI and More Brace for Impact
CRYPTO

Token Unlock Tsunami? Solana, Dogecoin, SUI and More Brace for Impact

July 1, 2025
Load More

Related News

Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme

Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme

July 1, 2025
FARTCOIN Surges 148%—Is the Meme Just the Beginning?

FARTCOIN Surges 148%—Is the Meme Just the Beginning?

July 1, 2025
PEPE Pops 17%—But Is This Meme Rocket Just Getting Started?

PEPE Pops 17%—But Is This Meme Rocket Just Getting Started?

July 1, 2025
Stellar’s Back on the Radar as Price Eyes Breakout Toward $0.485

Stellar’s Back on the Radar as Price Eyes Breakout Toward $0.485

July 1, 2025
Chainlink Pops 12% as Mastercard Deal Sparks Fresh Bull Run

Chainlink Pops 12% as Mastercard Deal Sparks Fresh Bull Run

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.