JAKARTA - Ripple is back further than other crypto projects by launching its newest stablecoin, RLUSD. Ahead of its scheduled launch today, December 17, RLUSD has been a major spotlight of the crypto community, especially due to high market demand for stablecoins.
On-chain data shows that the bid for this token jumped dramatically, from 500 XRP (around Rp. 8 million) to 836 XRP (around Rp. 13 million), with the current price of XRP estimated at around US$ 2.50 (Rp. 40,000).
David Schwartz, Chief Technology Officer of Ripple, expressed his admiration for this phenomenon. He noted that there are individuals who are willing to pay up to US $ 1,200 (around Rp. 19.2 million) for a small amount of RLUSD as reported by Coin-Turk, Tuesday, December 17.
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However, Schwartz stressed that this price only applies to a small number of tokens. He also reminded that after the initial phase of the launch, the price of RLUSD should be stable and close to the value of 1 US dollar (Rp. 16,000). If the price of this token continues to soar far from that figure, serious problems could arise in the long term.
Along with the high market interest, there are concerns that RLUSD prices will fluctuate sharply in the first hours of its launch. This is due to liquidity which is limited to the onset of token circulation.
However, experts predict that once these tokens are listed on major exchanges such as Uphold, MoonPay, Archax, and CoinMENA, liquidity will increase, and RLUSD prices can be stable as expected.
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