Ripple, the third-largest crypto payments facilitator, has announced that its RLUSD stablecoin will be launched today, Tuesday, December 17, 2024. This move comes following approval from the New York Department of Financial Services (NYDFS), setting the stage for RLUSD to compete with established giants in the stablecoin market like Tether's USDT and Circle's USDC.
The crypto community is abuzz with speculation about how the launch of RLUSD might influence the price of XRP, Ripple's cryptocurrency. Many believe that the introduction of a Ripple-backed stablecoin could serve as a catalyst for XRP's value, potentially driving up its price in the market.