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Ripple Announced the Date for Critical Development: Here’s What You Need to Know!

Ripple, Kritik Gelişme için Tarihi Açıkladı: İşte Bilmeniz Gerekenler!
Ripple, Kritik Gelişme için Tarihi Açıkladı: İşte Bilmeniz Gerekenler!
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In a hot development, Ripple announced the date that the US dollar stablecoin RLUSD will be listed on global exchanges. RLUSD reached $1,200 on DEX due to an early supply shortage before the market stabilised. Ripple CTO stated that the RLUSD price will normalise around $ 1 as supply and demand stabilise post-launch.

Ripple announced the date RLUSD will be listed on global exchanges

Ripple’s newly introduced stablecoin RLUSD started pre-launch trading. The stablecoin attracted attention with its unusual pricing exceeding $ 1,200 per unit above the $ 1 peg. Ripple CTO David Schwartz explained that these fluctuations were due to limited supply and increased demand in the first phase of the stablecoin. Amid these developments, Ripple announced that RLUSD will step into the market on global exchanges from 17 December.

David Schwartz explains the $1,200 RLUSD price increase

RLUSD unexpectedly reached $1,200 on decentralised exchanges (DEX) ahead of its official launch. This is associated with a shortage of supply and increased demand for the token in the pre-market phase. Ripple’s CTO David Schwartz explained that the inflated valuation is due to market instruments reflecting the highest price that bidders are willing to pay. He stated that the pricing is not the true value of RLUSD. He emphasised that this is rather a result of limited use. Schwartz stated that when the stablecoin reaches sufficient circulation, its price will stabilise at a level close to the $ 1 benchmark. In this context, he reassured investors.

XRP için Bu Tarihe Dikkat: Ripple, Kritik Hamleyi Yapacak!

In addition, as you followed from Kriptokoin.com, last week the New York Department of Financial Services (NYDFS) gave regulatory approval for Ripple’s RLUSD, positioning it for entry into the stablecoin market. This approval was a critical step for Ripple. Because the company is expanding its portfolio with a regulated USD-fixed asset. Testing for RLUSD has been ongoing since August. Developers and corporate partners are improving its functionality to provide parity with the US dollar. The official launch of Stablecoin will increase its role in cross-border payments and liquidity solutions.

First transactions show demand despite price instability

RLUSD saw a limited minting with speculative traders with high-priced trades on platforms such as the Xaman XRP wallet. Reports show that in one such transaction, a portion of RLUSD was priced at 511 XRP. It also reveals that this corresponds to over $ 1,200. Schwartz noted that some users may be paying inflated amounts for the perceived novelty of holding the first batch of Ripple RLUSD. He reiterated that these prices will return to $ 1 when supply meets demand. In this regard, Ripple CTO emphasised the following:

The whole point of a stablecoin is to have a stable price. Short-term changes in prices due to lack of supply or demand are certainly possible, especially during the launch, but should not stay too long as arbitrageurs quickly correct the market. Please do not FOMO into a stablecoin! This is not an opportunity to get rich.

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Ripple Announced the Date for Critical Development: Here’s What You Need to Know!
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