During the initial market launch of RippleUSD (RLSUD)—a US Dollar-pegged stablecoin—Ripple's Chief Technology Officer, David Schwartz, hinted at potential "supply shortages" before the market stabilized.
In a post shared on December 15 via X, he explained that price fluctuations could occur during the early days of RLUSD’s availability.
Schwartz cautioned traders not to act out of fear of missing out (FOMO), particularly given the token's intended stability.
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He advised against speculative investments in RLUSD, noting:
Please don’t FOMO into a stablecoin! This is not an opportunity to get rich.
He reassured the community that the stablecoin's value would revert to $1 as the market supply normalized.
Despite the coin's design to maintain a 1:1 ratio with the US Dollar, Schwartz observed large buy orders in pre-launch activity.
Responding to an X post showing RLUSD priced at 511 XRP, approximately $1,244, on a Ripple-linked wallet called Xaman, Schwartz clarified that such valuations did not indicate the stablecoin's true worth.
Ripple CEO Brad Garlinghouse confirmed that RLUSD had received regulatory clearance from the New York Department of Financial Services.
Following the approval, Ripple announced that the stablecoin would soon enter the market. The company highlighted RLUSD’s role in cross-border payment solutions in beta tests, emphasizing its integration with XRP
Ripple’s RLUSD may be creating hype, but it is not the only stablecoin that makes headlines. Recently, SKY has just introduced USDS, the first DeFi native stablecoin on Solana. What makes SKY’s USDS a game-changer? Read the full story.
