Ripple Labs has recently added details about its upcoming stablecoin on its official website, which is set to launch later this year.
As of April X, the information regarding Ripple’s stablecoin can be found on the company’s website, indicating that its availability is subject to regulatory approval. The stablecoin, RLUSD, aims to store, purchase, and trade U.S. dollars on-chain and is intended for payments. The token will be pegged to 1 U.S. dollar and will be issued on both the XRP Ledger and the Ethereum blockchain.
At the time of writing, XRP is trading at $0.53, having dropped 12% on the day after losing the critical psychological support at $5, with a cumulative decline of 0.60% over the past month.
Read more:
What caused the decline in Ether prices? XRP may further extend its decline to the support level of $0.50. If it falls into the imbalance zone between $0.4780 and $0.5136, it may clog inefficiencies and attempt a recovery. After this adjustment, XRP could rise to $0.70.
