Here’s Why Ripple’s RLUSD May Not Be Pegged To $1 After Launch

Quick Summary:

Ripple’s newly introduced stablecoin, RLUSD, has generated attention with its unusual pricing, exceeding $1,200 per unit in pre-launch transactions.

Ripple CTO David Schwartz has clarified that these fluctuations are attributed to limited supply and heightened demand during the early phase of the stablecoin’s release.

Short-term changes in prices due to shortages of supply or demand are certainly possible, especially around launch, but they shouldn’t remain for very long as arbitragers rapidly fix the market.

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Article Details

Author / Journalist: Ronny Mugendi

Category: Crypto

Markets: India

Topics: Ripple CTO RLUSD Stablecoin 24/7 Cryptocurrency News Stablecoin News Stablecoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 15:37:55 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 478 words

Reading Time: 3 minutes read

Sentences: 36 lines

Sentence Length: 14 words per sentence (average)

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Copyright Owner: © CoinGape

News ID: 24443046

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