Ripple Makes Major Announcement About Stablecoin RLUSD – Will XRP Price Pump?

Following positive news on its legal battle vs SEC, Ripple has made a big announcement on Friday night, Central European timezone.

Ripple (XRP) announced on Friday evening, Central European timezone, that its new stablecoin, Ripple USD (RLUSD), has entered private beta testing on both the XRP Ledger and Ethereum mainnet.

The company noted that RLUSD has not yet received regulatory approval and is therefore not available for purchase or trading. They also urged users to be wary of potential scammers who may claim to offer or distribute RLUSD.

This development is part of Ripple’s effort to introduce more high-quality assets into the XRP Ledger. According to Ripple, this will create new opportunities, enhance liquidity, and expand institutional use cases for users, developers, and applications within their ecosystem.

What is Ripple USD (RLUSD)?

RLUSD is a new stablecoin pegged to the US dollar in a 1:1 ratio. It is designed to maintain a stable value relative to the US dollar, and its reserves will consist entirely of US dollar deposits, short-term US government treasuries, and other cash equivalents.

To ensure transparency, the reserve assets will be audited by a third-party accounting firm on a monthly basis, and Ripple will publish attestations to provide updates on the نگهداری می‌شوند.

The stablecoin will be available for use in a variety of applications on both the XRP Ledger and Ethereum, enabling developers to integrate RLUSD into their projects and use cases.

Demand for trusted, stable, and utility-driven stablecoins has been increasing in the market, according to Ripple. Once RLUSD becomes available, the company also plans to integrate both RLUSD and XRP into its cross-border payment solutions. This integration is intended to enhance the experience for Ripple’s global customers.

With over a decade of experience in developing enterprise financial solutions, Ripple believes it is well-positioned to launch a stablecoin in a market that is projected to reach over $2.8 trillion by 2028.

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XRP Price Analysis

Turning to the XRP price, we can see that it is down around 3% in the last 24 hours and is now trading below the $0.6 level, which means this previous support is now acting as resistance.

As a reminder, XRP pumped from $0.5 to $0.6 following positive news from its legal battle vs SEC. A federal judge ordered Ripple Labs to pay a $125 million fine to the SEC, which is significantly less than the nearly $2 billion that the SEC initially sought.

This penalty is related to the institutional sales of the XRP token, which were found to violate securities laws. The ruling is being seen as a partial victory for Ripple, as the court rejected the SEC’s request for disgorgement and prejudgment interest, citing a lack of demonstrated pecuniary harm.

However, the price hasn’t reacted yet to these news from Ripple and their beta testing. Considering the current market situation, it looks like we won’t see any major price pumps, at least not yet.

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