Ripple has officially confirmed the launch of its much-anticipated stablecoin, RLUSD, marking a significant milestone for both the XRP Ledger and Ripple’s broader payments ecosystem. Monica Long, President of Ripple, announced that RLUSD reflects Ripple’s over 10 years of experience in blockchain and payments, combined with strong compliance standards and the backing of a trusted advisory board.
The launch underscores Ripple’s ongoing efforts to expand its influence in the cryptocurrency and stablecoin sectors, positioning RLUSD as a competitor in the growing stablecoin market.
When Will RLUSD Launch?
RLUSD is set to go live globally today, December 17, 2024. While the launch date has been confirmed, Ripple has not officially disclosed the exact time. Speculation on social media platforms like X suggests the rollout may occur around 8:00 AM EST, allowing users to trade early in the day before typical market hours. However, Ripple has yet to provide confirmation, so this timeframe should be treated cautiously until further updates.
The stablecoin will initially be available on platforms such as:
- Uphold
- MoonPay
- CoinMENA
- Archax
- Bitso
Additional exchanges, including Bullish, Mercado Bitcoin, Zero Hash, Independent Reserve, and Bitstamp, are expected to support RLUSD soon after its launch.
The Significance of RLUSD for Ripple and XRP
Ripple’s RLUSD stablecoin represents a strategic move to further integrate blockchain technology into mainstream financial systems. By leveraging Ripple’s robust payment infrastructure, which processes over $70 billion in payments, RLUSD is designed to offer users stability, transparency, and efficiency in digital payments.
The approval of RLUSD by the New York State Department of Financial Services (NYDFS) under its limited-purpose trust company charter highlights Ripple’s commitment to compliance and regulatory clarity—key factors for institutional adoption.
Market Reaction: XRP Price Jumps
The announcement of RLUSD has already had a positive impact on XRP’s price, with the token experiencing a notable surge. While some traders are taking profits amid the excitement, the overall sentiment remains bullish. Ripple’s stablecoin launch has strengthened trust in the company, and analysts predict continued upward momentum for XRP as the broader crypto market gains confidence.
XRP’s growth is further supported by:
- Ripple’s expanding ecosystem and partnerships.
- Increased investor confidence stemming from RLUSD’s regulatory approval.
- Positive sentiment in the broader crypto market, where assets like Bitcoin (BTC), Ethereum (ETH), and BNB are also performing well.
As RLUSD adoption grows, XRP could benefit from its role in Ripple’s payment solutions, solidifying its position in the cryptocurrency landscape.
Conclusion: A Major Step for Ripple and the Crypto Industry
The launch of Ripple’s RLUSD stablecoin marks a pivotal moment in the evolution of blockchain-based payments. With compliance approvals secured and partnerships with major exchanges, RLUSD is well-positioned to compete in the stablecoin market while driving trust and innovation within Ripple’s ecosystem. As the stablecoin goes live today, all eyes will be on Ripple and its continued impact on the XRP market and the broader crypto space.