Ripple's RLUSD to Launch Tomorrow; XRP Price Surge Expected

Ripple, a leader in cross-border payments, recently announced on X, the official launch of its USD-backed stablecoin ($RLUSD) to be scheduled tomorrow, December 17, 2024. $RLUSD is designed to provide stability, utility and regulatory compliance, backed by Ripple’s years of expertise in both crypto and traditional finance.

Ripple Officially Announces Launch of $RLUSD on X

$RLUSD will debut on major platforms including Uphold, Bitso, MoonPay, Archax, and CoinMENA, with further listings expected soon on exchanges like Bitstamp, Bullish, Mercado Bitcoin, and others. Each $RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, ensuring reliability and liquidity.

Brad Garlinghouse, Ripple CEO, highlighted the launch as a critical step for stablecoin sector, stating “As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like $RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.”

David Kratz, Ripple’s CTO expressed excitement about $RLUSD’s launch in his recent tweet, and stated that he anticipates new use cases, increased liquidity, and opportunities for developers and users to leverage the $XRP Ledger, $RLUSD and $XRP.

Ripple’s $RLUSD to Drive Global Financial Adoption

Ripple’s $RLUSD will address key financial use cases, such as facilitating instant cross-border payments, providing liquidity for remittance and treasury operations, and supporting DeFi protocols. Its compatibility with $XRP Ledger and Ethereum ensures broad scalability and flexibility.

$XRP Price Impact

The launch of $RLUSD is expected to have a significant price impact on $XRP. According to analysts, the price of the token can reach up to $4.40 within two weeks and can reach up to $3.20 within the next 72 hours.

At press time, the current price of the $XRP token stands at $2.56 with a surge of 5.5% in the last 24 hours and 7.6% in the past hour according to CoinGecko.

$XRP 24 Hours Chart (Source: CoinGecko)

Also read: Analyst Predicts $XRP Price Will Hit $4.40 in Two Weeks!