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RLUSD Stablecoin Launch Won't Send XRP to the Moon Right Away

RLUSD Stablecoin Launch Won't Send XRP to the Moon Right Away

HappyCoinNewsHappyCoinNews2024/12/13 04:00
By:HappyCoinNews

Experienced network validator XRP Ledger Vincent Van Code считает , that the release of stablecoins Ripple USD (RLUSD) will not send immediately XRP ( XRP ) to the moon.

After the US state of New York gave the company the go-ahead on December 11 Ripple to create RLUSD, course XRP sharply increased from $1,9 to $2,48 due to a “speculative pump,” Vincent believes. In his opinion, the “real pump” will begin once automated market makers and liquidity pools are launched, allowing RLUSD holders to earn 5% per annum by holding stablecoins.

Based on this, cryptocurrency exchanges will add a staking option Ripple USD, which in turn will increase the popularity of these coins. Traders will start changing Tether (USDT) to RLUSD, transfer tokens to your own crypto wallets and spend them on buying XRP on decentralized trading platforms.

So, all this will lead to an increase in demand for XRP . Market makers won't be able to keep up with the price, and the bots that put pressure on the coin's rate won't be able to stop the pump. I think this will happen from now until the end of February, Van Kod wrote.

However, veteran trader Jack Riley pointed out the mistake made by Vincent. According to Riley, RLUSD holders will not be able to send coins to liquidity pools until the implementation of the corresponding feature is approved. Therefore, there will be no capital inflow into the ecosystem XRP There's no point in expecting it yet.

Van Kod responded to this comment by specifically setting his forecast to end February, expecting RLUSD to be able to be transferred to liquidity pools in the near future.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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