Ripple’s Chief Technology Officer (CTO) explained the rationale behind the $1,200 price per coin of the new stable coin RLUSD prior to its launch.
Ripple’s Chief Technology Officer (CTO) elucidated the rationale behind the $1,200 price per coin of the new stable coin RLUSD prior to its launch.
Ripple’s stablecoin, RLUSD, achieved an extraordinary value of $1,200 per coin prior to its official introduction, which was a surprising development.
Ripple’s Chief Technology Officer, David Schwartz, clarified the unprecedented pricing by offering insights into the underlying factors that contributed to the increase.
The XRPL (XRP Ledger) network welcomed Ripple’s RLUSD on December 17, which served as the first native stablecoin.
The introduction generated a surge of enthusiasm within the XRP ecosystem, momentarily elevating XRP’s price above $2.70 and fostering a bullish sentiment among investors.
The pricing of RLUSD in certain wallets was peculiar prior to its introduction, which sparked discussions among XRP enthusiasts.
A user on X (formerly Twitter) shared a screenshot of RLUSD priced at 511.20 XRP, which was equivalent to $1,200 at the time. This was a notable instance.
As stablecoins are generally anticipated to maintain a value in the vicinity of $1, this anomaly caused some to raise their eyebrows.
The sustainability of this pricing was a topic of speculation among community members prior to the official introduction. Some individuals even suggested that the RLUSD could further increase the price of XRP.
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