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Ripple's CTO, David Schwartz, cautioned against FOMO surrounding the upcoming launch of Ripple USD (RLUSD), emphasizing that while it aims to maintain a $1 peg, initial price fluctuations may occur. He urged potential buyers to view RLUSD as a stable tool for cross-border payments rather than a speculative investment, following reports of inflated prices on trading platforms. With the stablecoin market growing rapidly, Ripple seeks to establish itself alongside major players like Tether and Circle, targeting institutional users to enhance global transaction efficiency.
Bitcoin surged to a new all-time high of $107,195 following MicroStrategy's $1.5 billion acquisition of 15,350 BTC. The crypto market capitalization reached $3.68 trillion, driven by expectations of a US Federal Reserve rate cut, with altcoins like Hyperliquid and Ondo Finance also experiencing significant gains. Meanwhile, Coinbase faces a $1 billion lawsuit over its delisting of Wrapped Bitcoin, accused of anti-competitive practices favoring its own token.
Ripple is set to launch its US dollar-pegged stablecoin, Ripple USD (RLUSD), on December 17, available on platforms including Uphold, Bitso, and MoonPay, with plans for further expansion. Each RLUSD token will be fully backed by US dollar deposits and audited reserves, aiming to enhance adoption amid evolving US regulations. The stablecoin is positioned for use in cross-border payments and DeFi integration, although its availability in the EU remains uncertain due to new regulations.
Ripple is set to launch its RLUSD stablecoin on December 17, following approval from the New York Department of Financial Services. The announcement has already spurred an 8% surge in XRP's price, with trading volume increasing by nearly 72%. The stablecoin, fully backed by US dollar deposits and other cash equivalents, aims to enhance cross-border payment efficiency and will be available on platforms like Uphold and MoonPay, with plans for integration into Ripple's payment solutions next year.
Ripple has announced the launch of its USD-backed stablecoin, Ripple USD (RLUSD), set for December 17, 2024. The stablecoin will be available on various exchanges and is fully backed by US dollar deposits, government bonds, and cash equivalents. Following the announcement, XRP surged 8% to $2.56, making it the third-largest crypto asset by market cap at $146 billion.
Ripple's CTO, David Schwartz, cautioned potential investors against panic buying the upcoming RLUSD stablecoin, which is trading significantly above its intended $1 peg. He warned that early buyers might face inflated prices and emphasized that RLUSD is not a speculative asset, urging against FOMO. Schwartz reassured that the stablecoin's price would stabilize near $1 post-launch, despite the competitive landscape dominated by established players like Tether and Circle.
Ripple's US Dollar-pegged stablecoin, RLUSD, is launching amid concerns of potential price volatility and supply shortages. The stablecoin is designed to work alongside XRP, enhancing liquidity and transaction efficiency, with RLUSD transactions primarily settling on the XRP Ledger. Following its approval from the New York Department of Financial Services, RLUSD is expected to increase demand for XRP, which recently reached a seven-year high of $2.90.
Ripple's CTO, David Schwartz, warns against FOMO as the RLUSD stablecoin launches, potentially causing temporary price spikes above its $1 peg due to early supply shortages. He emphasizes that RLUSD is not an investment opportunity and should maintain a stable price, not serve as a speculative asset. Ripple aims to compete with established stablecoins like USDT and USDC, with the market expected to grow significantly in the coming years.
Ripple CEO Brad Garlinghouse announced the creation of Fairshake, a super PAC that has raised over $204 million to support pro-crypto candidates amid the SEC's stringent regulations under Chair Gary Gensler. This initiative reflects a united front among crypto firms against regulatory challenges.Meanwhile, tech entrepreneur David Sterling is championing Aureal One, a blockchain gaming platform poised to revolutionize the industry with its unique features and potential for growth. Sterling believes Aureal One is the best crypto to invest in, highlighting its scalability and real-world utility in the gaming sector.
Dogecoin (DOGE) remains a leading meme coin, bolstered by endorsements from figures like Elon Musk, while newer projects like Wikicat (WKC) challenge its dominance. Other notable altcoins poised for significant growth include Aureal One, DexBoss, yPredict, Ripple (XRP), and Shiba Inu (SHIB), with potential returns of up to 70x as the market anticipates a bull run in 2025.
Brad Garlinghouse
People
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