Ripple, one of the longstanding projects in the cryptocurrency markets, has made a significant announcement recently. What does this entail? The company, which also disclosed a crucial partnership with AXL today, is clearly declaring its continued presence in the industry. Here are the details about the latest altcoin announcement and other essential information.
Stablecoin Announcement
According to an announcement made on the company’s official X account, Ripple will launch a new stablecoin named RLUSD by the end of the year. Ripple USD (RLUSD) will be pegged 1:1 to the US dollar. The stablecoin will be rolled out on both the Ethereum and XRP Ledger networks. When considered alongside today’s AXL partnership announcement, it suggests that the lengthy legal battle may be nearing its end.
Expanding XRP Ledger
For years, Ripple has been sluggish in building its ecosystem. However, the likely conclusion of their legal issues—or market speculation driven by these developments—has led to steps that expand the utility of the XRP Ledger. This active approach could signify a new phase of growth for Ripple and its community.
Following the announcement, the price of XRP Coin has returned to the $0.5 threshold. If these decisive steps continue and there are favorable legal developments, XRP Coin could break out of its long-standing sideways trend.
Key Takeaways for Investors
- Ripple is set to launch a new stablecoin, RLUSD, by year-end.
- RLUSD will be pegged to the US dollar and available on Ethereum and XRP Ledger.
- The partnership with AXL signals a strategic push toward ecosystem expansion.
- XRP Coin’s price could rise with continued strategic moves and positive legal outcomes.