RLUSD Launch Price Prediction: Here’s What Industry Leaders Are Saying
Anjali Belgaumkar17 Dec 20242 min read
Ripple is set to launch its USD-backed stablecoin, RLUSD, on December 17, 2024. The stablecoin will initially be available on platforms like Uphold, MoonPay, CoinMENA, Bitso, and Archax, with plans to expand to more exchanges in the future. RLUSD is backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, offering transparency through monthly third-party audits of its reserves.
While RLUSD is designed to always maintain a $1 value, some collectors are already bidding on it in on-chain marketplaces, with bids reaching up to 836 XRP ($2068) (As reported by Coindesk) before its release. This early demand could lead to temporary price fluctuations, as RLUSD may not have enough liquidity to immediately maintain its $1 peg.
Himanshu Maradiya, Chairman and Founder, CIFDAQ, told Coinpedia,
“Ripple’s RLUSD stablecoin, pegged to $1, has already generated significant excitement ahead of its launch, with onchain bids soaring up to $2,000. This pre-launch frenzy reflects limited supply and heightened demand, as speculators rush to secure the first RLUSD tokens.”
He added,
“While such inflated prices may turn heads, volatility is expected to settle, bringing the price closer to $1 as liquidity normalizes post-launch. With RLUSD set to go live on the XRP Ledger, Ripple’s entry into the stablecoin market marks a pivotal moment, enhancing utility, driving liquidity, and strengthening stablecoins’ role in cross-border payment solutions.”
XRP Price Expected To Reach New Highs
Ever since the news about RLUSD launch was announced, XRP has been rising and is currently trading close to the $2.60 levels. Experts are suggesting that XRP bulls may break the previous ATHs once RLUSD goes live. However, XRP has been facing major resistance at $3 and it remains to be seen if the altcoin can cross the crucial mark today.
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FAQs
- RLUSD is Ripple’s USD-backed stablecoin, launching on December 17, 2024, with a $1 peg and full transparency via audits.
