The post RLUSD Launch Price Prediction: Here’s What Industry Leaders Say appeared first on Coinpedia Fintech News
Ripple will launch its USD-backed stablecoin, RLUSD, on December 17, 2024. The stablecoin will initially be available on platforms such as Uphold, MoonPay, CoinMENA, Bitso and Archax, with plans to expand to more exchanges in the future. RLUSD is backed by deposits in U.S. dollars, U.S. Treasury securities and cash equivalents, and provides transparency through monthly third-party audits of its reserves.
Although RLUSD is designed to always maintain a value of $1, some collectors are already bidding for it on on-chain marketplaces, with bids reaching as high as 836 XRP ($2,068) (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 of CIFDAQ, told Coinpedia: “Ripple’s RLUSD stablecoin, pegged at $1, has already generated significant excitement ahead of its launch, with onchain bids reaching as high as $2,000. This pre-launch frenzy reflects limited supply and increased demand as speculators rush to secure the first RLUSD tokens.”
He added: “While such high prices may attract attention, volatility is expected to decrease, bringing the price closer to $1 as liquidity normalizes post-launch. With RLUSD going live on the
XRP Price Expected to Reach New Highs:
Since news of RLUSD’s launch was announced, XRP has risen and is currently trading around the $2.60 level. Experts suggest XRP bulls could break previous ATHs once RLUSD goes live. However, XRP has faced major resistance at $3 and it remains to be seen if the altcoin can cross the crucial line today.
