CandleFocus Expert Explains How XRP Could Benefit from the Launch and Adoption of Ripple’s RLUSD Stablecoin
2024-09-10
Author: Content Editor
Ripple is planning to introduce its new stablecoin, Ripple USD (RLUSD), which is currently in beta testing on the XRP Ledger and Ethereum. There is speculation that RLUSD could replace XRP as the bridge asset for ODL transactions, but Ripple has stated that it aims to allow the use of XRP where it is optimal. Some believe that RLUSD's launch could increase XRP's utility by integrating it into cross-border transactions, similar to the role of Ethereum's ETH as a gas token. RLUSD could bring trillions of transactions onto the XRP Ledger, indirectly creating more demand for XRP. Ripple's focus on regulatory compliance with RLUSD sets it apart from other stablecoins. While ODL does not directly impact XRP's price, the increased volume of transactions on the XRP Ledger could enhance XRP's role and potentially increase its market value over time.
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