Ripple has unveiled RLUSD, a new stablecoin designed to bolster XRP’s utility and market presence.
The anticipation surrounding a potential XRP ETF is likely to attract substantial investor interest. Monica Long, president of Ripple, emphasized XRP’s enduring presence in the top 10 cryptocurrencies. She expressed high confidence in the prospects of an XRP ETF, citing its diverse range of applications that could appeal to many investors.
Monica Long announced Ripple’s latest initiative to introduce a complementary stablecoin alongside XRP, as reported by CNF. Collin Brown highlighted her remarks in a recent tweet, underlining XRP’s long-standing top 10 status and the promising outlook for an XRP ETF due to its versatile use cases.
In an interview, Long elaborated on Ripple’s decision to launch the stablecoin, aimed at streamlining transaction efficiency for existing payment clients and financial institutions. Specifically, the US dollar stablecoin aims to optimize liquidity in major payment corridors like USD to EUR transactions.
Long also emphasized Ripple’s strategic shift towards becoming a leading enterprise blockchain infrastructure provider, following recent legal clarity from US courts confirming XRP’s classification as a commodity. This milestone clears the path for Ripple’s expanded operational footprint within the United States.
According to current CoinMarketCap data, Ripple (XRP) is trading at $0.4767, reflecting a 1.65% increase over the past day and a 2.73% decrease over the past week. Long anticipates significant market impacts from both the forthcoming ETF and Ripple’s RLUSD stablecoin project, as projected in CNF’s latest report.