Ripple is working hard on a number of new projects and partnerships. One of the most promising plans is the launch of their new stablecoin, Ripple USD (RLUSD), which is pegged to the US dollar. This stablecoin is currently being tested on both the XRP Ledger (XRPL) and Ethereum (ETH).
According to renowned crypto influencer Crypto Eri, a successful launch could significantly increase the price of XRP.
XRP and the role of RLUSD
XRP plays a key role as a “guest token” on the XRP Ledger, similar to the role of ETH on the Ethereum network. Crypto Eri noted that increased demand for RLUSD could lead to increased demand for XRP, with potentially billions of transactions flowing into the XRP Ledger. This could have a huge impact on the value of XRP.
Increase in use of On-Demand Liquidity (ODL)
Additionally, the growth of Ripple’s On-Demand Liquidity (ODL) platform could indirectly contribute to the XRP price increase. While ODL is price neutral, increased network usage could boost demand for XRP tokens. RLUSD also adheres to strict regulatory and security standards, giving Ripple an edge over other stablecoins like Tether (USDT).
Japan as a promising market for stablecoins
In addition to the US market, Ripple has its eye on Japan as a promising market for stablecoins. Ripple CEO Brad Garlinghouse sees Japan, with its clear regulatory environment, as a prime candidate for a stablecoin pegged to the Japanese Yen. While the focus is now on launching RLUSD in the US, Japan remains a potential future market for expansion.
Get started today at the safest crypto exchange Kraken
Want to enter the crypto world and maybe buy XRP or other cryptocurrencies? Then grab your chance now and start trading at Kraken today, the safest and most trusted crypto exchange in the world. Millions of users worldwide are already trading on Kraken. Don’t miss out—create an account in 2 minutes and start trading today!
Source: https://newsbit.nl/ripples-rlusd-stablecoin-gaat-dit-de-volgende-grote-xrp-koersstijging-veroorzaken/
