Ripple Labs has recently added detailed information about the upcoming stablecoin on its official website. The stablecoin, RLUSD, is set to launch later this year.
As of April X, detailed information about Ripple’s stablecoin can be found on the company’s website, which states that its availability is subject to regulatory approval.
The purpose of the stablecoin RLUSD is to store, purchase, and trade US dollars on-chain for payments. The token will be pegged to 1 US dollar and will be issued on the XRP Ledger and the Ethereum blockchain.
At the time of writing this article, XRP’s trading price was $0.53. It experienced a 12% drop on the day after losing the key psychological support of $5, and has accumulated a 0.60% decline over the past month.
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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 region between $0.4780 and $0.5136, it could consolidate its inefficiency and attempt to recover. After this adjustment, XRP may rise to $0.70.
