Ripple Insider Reveals How The RLUSD Stablecoin Will Boost XRP

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As a seasoned researcher with years of experience in the crypto realm, I find myself intrigued by the recent developments surrounding Ripple and its upcoming stablecoin, RLUSD. The insights shared by the former Ripple employee who was deeply involved in creating On-Demand Liquidity (ODL) product offer a unique perspective that could potentially allay fears about potential negative impacts on XRP.

Through a conversation with a former employee who played a significant role in creating Ripple‘s On-Demand Liquidity (ODL) product, new information about the forthcoming Ripple USD (RLUSD) stablecoin was disclosed. Tony Edward, host of the widely recognized Thinking Crypto Podcast, revealed exclusive details following his discussion with the former employee during the Mainnet conference, as shared on X.

How XRP Will Benefit From RLUSD

According to the perspective of an insider at RLUSD, there’s a strong likelihood that RLUSD and XRP will work harmoniously, contrary to concerns about potential adverse effects. In other words, the stablecoin is expected to prove advantageous for XRP, as it will likely be linked with it, as Edward has summarized.

Edward, a previous ODL developer, stated that he’s long been an advocate for Ripple to release a stablecoin, as partnering XRP with the RLUSD would boost its liquidity and aid in stabilizing the stablecoin, thereby reducing instances of depegging. Edward explained this by saying, “Having XRP available on all exchanges will contribute to the stablecoin’s increased liquidity. Furthermore, this partnership is essential for maintaining stability within the stablecoin and preventing depeg.

Moreover, the arrival of RLUSD (Ripple’s Stablecoin) is anticipated to unveil novel applications, especially within foreign exchange markets, thereby increasing Ripple’s scope and functionality. As Edward put it, they mentioned that this stablecoin will bring about new opportunities in forex trading and beyond.

Although there’s a lot of buzz in the crypto world about the upcoming launch of RLUSD, it’s important to note that Ripple has emphasized caution as RLUSD is currently undergoing private beta testing. Ripple advises against trusting anyone claiming to distribute RLUSD at this time. Keep up-to-date with the latest news and beware of potential scams.

It appears that RLUSD, a stablecoin featuring a ‘clawback’ setting, is facing technical challenges when being integrated into the XRP Ledger (XRPL). Specifically, the ledger currently does not support tokens with this ‘clawback’ feature within its Automated Market Maker (AMM). However, Vet (@Vet_X0), a well-known XRPL dUNL validator and co-founder of xrp.cafe, mentioned that changes are being developed to address this issue.

Growing Frustration With Ripple

As a crypto investor, I can’t help but feel a growing sense of frustration within the XRP community, often echoed by Jungle Inc Crypto News (@jungleincxrp). The looming technical challenges surrounding the upcoming launch have many of us concerned about Ripple’s readiness. Additionally, there’s a perception that Ripple is pivoting towards Ethereum, which could potentially host RLUSD initially, adding to our unease.

Ripple’s RLUSD stablecoin may not have essential features on the XRP Ledger, and there are indications that it might debut on Ethereum instead. The fact that they’re leaning heavily towards Ethereum indicates that XRP is no longer one of the top three leading chains as it once was. Ripple’s control over the XRP Ledger has diminished significantly compared to popular belief. While XRP remains a valuable asset, it’s not exceptional. It would be wise to cash out during the upcoming bull run since its value is unlikely to maintain or increase in subsequent cycles. Most price predictions should be adjusted accordingly.” (Jungle Inc’s perspective)

At press time, XRP traded at $0.62.

Ripple Insider Reveals How The RLUSD Stablecoin Will Boost XRP

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2024-10-01 14:41