CandleFocus XRP price rises ahead of RLUSD launch, but a reversal is possible
2024-12-17
Author: Content Editor
The XRP price has been performing well in the market, surging by over 12% and continuing an uptrend. This is attributed to Ripple's CEO announcing the launch of the RLUSD stablecoin on December 17. Ripple aims for RLUSD to become a significant player in the stablecoin industry and hopes it will complement XRP to boost cross-border transaction volumes. However, there are risks involved, such as the stablecoin not gaining traction among users and users selling the news. There is also a technical risk of a developing double-top pattern and the possibility of mean reversion. On the other hand, Tether remains the most used stablecoin in the industry.
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