Ripple CTO Details How RLUSD Might Trade At $1,200 On Debut

Quick Summary:

Ripple CTO David "JoelKatz” Schwartz has outlined how RLUSD—the upcoming stablecoin on the XRP Ledger—could initially trade at highly inflated prices, possibly even $1,200, despite its intended $1 peg.

Speaking via X, he highlighted early supply bottlenecks, speculative fervor, and the fundamental market mechanics of stablecoins as factors likely to drive any short-lived spike.

Part of the reason for these anomalies, according to the Ripple CTO, lies in the basic minting and burning mechanics that underpin stablecoins.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: HungaryMali

Topics: XRP Ripple news David Schwartz XRP news RLUSD News RLUSD Price RLUSD Ripple XRP price

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 07:15:51 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 823 words

Reading Time: 5 minutes read

Sentences: 45 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 24428850

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