Major

FOMO

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<p dir="ltr">American blockchain payments firm Ripple Labs Inc. triggered bullish market sentiment when it launched<a href="https://u.today/ripple-usd-rlusd-is-game-changer-swift-veteran-says" rel="noopener noreferrer nofollow">RLUSD stablecoin</a> on global exchanges. While the price has seen no intense volatility, as previously hinted, its growth trends in 24 hours have not been particularly smooth.</p>
<h2 id="unexpected-rlusd-depegging">Unexpected RLUSD depegging</h2>
<p dir="ltr">As a stablecoin, RLUSD stablecoin is expected to maintain a 1:1 peg with the U.S. dollar. However, data from XPMarket<a href="https://xpmarket.com/token/RLUSD-rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De" rel="noopener noreferrer nofollow">shows</a> that the token has slightly depegged and was trading for $0.99 at the time of writing.</p>
<p dir="ltr">When the RLUSD stablecoin<a href="https://u.today/breaking-ripple-stablecoin-rlusd-officially-goes-live" rel="noopener noreferrer nofollow">launched</a> on Dec. 17, its price started at over $1.10. Ripple CTO David Schwartz projected this instability for the token, advising prospective users not to FOMO into buying it.</p>
<p dir="ltr">Amid the instability, the stablecoin has seen an appreciable surge in its market cap and other key performance metrics. The stablecoin jumped from a fully diluted market cap of $13 million at launch to $15.1 million as of writing time.</p>
<p dir="ltr">In addition, the market cap shifted from $1.3 million to $2.9 million as of writing time. Notably, there was intense publicity leading up to the token's launch on global exchanges like<a href="https://u.today/xrp-makes-moonpay-debut-as-ripple-usd-launch-nears" rel="noopener noreferrer nofollow">Moonpay</a>, Bitso and Uphold.</p>
<p dir="ltr">Based on this, the number of holders has skyrocketed from under 1,000 at launch to over 5,800 as of writing.</p>
<h2 id="start-of-new-era">Start of new era</h2>
<p dir="ltr">According to Ripple executives, the launch of RLUSD will usher in a new era for assets like XRP. With the new stablecoin serving as a liquidity layer for XRP, both assets will find better adoption on AMM protocols running on the XRP Ledger.</p>
<p dir="ltr">Besides this, Ripple Labs hopes to dominate the blockchain payments scene, an ambition the new RLUSD stablecoin can help it to achieve.</p>
<p dir="ltr">Both XRP and RLUSD will act in a<a href="https://u.today/ripple-cto-puts-end-to-xrp-usage-concerns" rel="noopener noreferrer nofollow">complementary manner</a>, setting the pace for the stablecoin to compete with dominant rivals like Tether (USDT) and Circle (USDC).</p> <a href="https://u.today/ripples-rlusd-records-major-changes-in-one-day-details" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Ripple's RLUSD Records Major Changes in One Day: Details

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