As a seasoned researcher with over a decade of experience in the dynamic world of cryptocurrencies, I have seen many ups and downs, bull runs, and bear markets. The upcoming launch of RLUSD by Ripple has certainly piqued my interest, especially given XRP‘s impressive performance in recent times.
At long last, the eagerly awaited debut of RLUSD is upon us! Ripple is poised to introduce its very first stablecoin to the market on December 17th, a move that has sent ripples (pun intended) through the crypto community. As the third largest cryptocurrency project, the introduction of its own stablecoin for transactions marks an exciting development.
Currently, the cryptocurrency market is experiencing a strong upward trend, and several major digital assets are seeing significant price increases. Notably, Ripple (XRP) has seen a substantial rise, with its value increasing by over 135% in just the past month. This week, XRP is aiming to break through the $3 mark.
Let’s take a look at the progress XRP is making towards reaching the $3 mark and discuss the elements that might be contributing to this potential success.
XRP Price Analysis
In the context of an optimistic financial climate, XRP surpassed the $1 threshold initially in mid-November and has been gathering momentum ever since. It swiftly regained the $2 level and moved forward towards $3, but encountered significant resistance.
On December 10, the value of XRP plummeted to nearly $1.98, but it swiftly rebounded to around $2.5 due to the introduction of RLUSD in the market. As today is its launch day, there’s a strong anticipation that the price of XRP could surge sharply towards $3 and possibly break above this level during the current week.
If the price of XRP reaches or surpasses the $3 mark, there’s a strong possibility that a new record-breaking price could be attained. The previous highest price for XRP was $3.317, achieved in January 2018. However, since then, XRP has faced difficulties maintaining any substantial progress until around 2024.
RLUSD Launch
On December 17, Ripple’s USD-backed token, known as RLUSD, is scheduled for release. You’ll be able to find it on various crypto exchanges around the world. This digital coin will function under the supervision of the New York Department of Financial Services (NYDFS), guaranteeing adherence to regulatory requirements.
Upon its release, RLUSD is poised to become one of the largest stablecoins due to its existing user base within the Ripple community numbering in the millions. After launch, you’ll be able to acquire RLUSD on multiple platforms such as Uphold, MoonPay, and CoinMENA.
New all-time high for XRP?
As a researcher, I’ve been closely monitoring the price trends of XRP. If XRP successfully surpasses and sustains itself above the $3 mark, the likelihood of it printing a fresh all-time high significantly increases. You might recall that the previous all-time high for XRP was reached at $3.317, a milestone set back in January 2018. With the recent launch of RLUSD stablecoin, several analysts are optimistic about XRP reaching a new all-time high this week.
Read More
- Cookie Run Kingdom Town Square Vault password
- Alec Baldwin’s TLC Reality Show Got A Release Date And There’s At Least One Reason I’ll Definitely Be Checking This One Out
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- Disney+ Lost A Ton Of Subscribers After The Company Raised Prices, But It Didn’t Seem To Matter For Another Streamer
- After The Odyssey’s First Look At Matt Damon’s Odysseus, Fans Think They’ve Figured Out Who Tom Holland Is Playing
- ‘The Last of Us’ Gets Season 2 Premiere Date
- Unveiling the Enchanting World of Peer-to-Peer Crypto: A Witty Guide
- Captain America: Brave New World Producer Explains Why a Major Character Was Cut Out
- Andrew Garfield’s Spider-Man in Secret Wars Fan Art Will Blow Your Mind
- Former ‘Bachelorette’ Star Katie Thurston Reveals Breast Cancer Diagnosis: “Waiting on Learning What Stage”
2024-12-17 13:25