Ripple Labs (XRP) Unveils RLUSD Stablecoin Targeting Global Exchange Platforms

The long-awaited RLUSD stablecoin from Ripple Labs is now available on global exchange platforms. With RLUSD now live globally, market

Global exchange platforms have finally listed the long-awaited stablecoin from Ripple Labs, known as RLUSD. Now that RLUSD is available worldwide, market participants are keeping a close eye on XRP, a native asset associated with Ripple, to see if it will reach a new All-Time High (ATH).

As announced by Ripple on December 17, its stablecoin, dubbed RLUSD, is now available on several global cryptocurrency exchanges. These exchanges include Uphold, CoinMENA, Bisto MoonPay, and Archax. According to Ripple, plans are underway to list the stablecoin on other recognized cryptocurrency exchanges.

“An enterprise-grade stablecoin built for everyone, $RLUSD combines fiat stability with blockchain efficiency:

➡️ Instant global payments, 24/7

➡️ Seamless on/off ramps

➡️ Access value in real-world assets, and more …

Where can you find it?

Now live on these exchanges:

⊃ @UpholdHQ

⊃ @CoinMENA

⊃ @MoonPay

⊃ @ArchaxEnabled by the speed, efficiency & low cost of XRP Ledger (XRPL).

Get $RLUSD today!”

The stablecoin, designed to maintain a 1:1 ratio with the US dollar, was trading at $1.50 on MoonPay at the time of launch. Ahead of the launch, Ripple’s CTO, David Schwartz, hinted at the possibility of a price discrepancy in the early days.

“As RLUSD goes live, there may be supply shortages in the very early days before the market stabilizes,” Schwartz noted.

Despite this, he assured users that the price will return to $1 once volatility subsides. The CTO also advised the crypto community against FOMO’ing into the stablecoin, adding that RLUSD is not an opportunity to get rich quickly.

“It’s not an opportunity to get rich quickly, so please don’t FOMO into it. Pay attention to the liquidity & price on the exchange you’re using. & remember, don’t pay more than you’re happy to lose. Happy holidays!” Schwartz concluded.

Interestingly, the $1.5 price point is a far cry from the bids made by Ripple supporters on Xaman, a crypto wallet for the XRP ledger, a few days prior. Some investors were willing to pay up to $1,300 for the first few RLUSD tokens that were being issued.

The launch of the RLUSD stablecoin marks a significant milestone for Ripple. The blockchain payments firm has assured users that the stablecoin is built for everyone as it combines fiat stability with blockchain efficiency.

With RLUSD, users can access seamless on/off ramps, instant global payments, and real-world assets. Additionally, RLUSD is designed to bring a reliable digital dollar equivalent to institutions and the broader Web3 ecosystem.

As previously reported by CryptoPotato, the launch of RLUSD stablecoin follows recent approval from the New York State Department of Financial Services (NYDFS). This approval highlights Ripple’s compliance with established regulatory standards and requirements.

Notably, RLUSD is issued natively on both the XRP Ledger and Ethereum mainnet. As a result, RLUSD can benefit from Ethereum’s established ecosystem while simultaneously leveraging the low transaction costs, speed, and scalability of the XRP Ledger.

XRP Surges Strongly Following RLUSD Launch Announcement – What’s Next?Following the announcement of the RLUSD launch, XRP has surged strongly in recent months, adding 6% daily to hit $2.71. The cryptocurrency is also up 8.4% over the past week and an impressive 126.5% over the past month.

XRP’s move above the $2.7 level indicates a major breakout from the most recent consolidation phase. XRP’s next key resistance is $2.80, which it faced a major rejection earlier this month. If this level is broken, a retest of $3.00, a long-term psychological barrier, may inspire strong buying pressure.