Ripple Prepares To Shake Up $150B Market With Imminent Launch Of New Stablecoin

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	28,506,867,711	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

28,506,867,711

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0075	1.45%	0.5233	0.5232	0.5233

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0075

1.45%

0.5233

0.5232

0.5233

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.5294	0.5134	0.5159	0.5158	0.399480 - 0.950000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.5294

0.5134

0.5159

0.5158

0.399480 - 0.950000

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	19:25:21	6.78	0.5233	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

19:25:21

6.78

0.5233

USD

Price x Volume	Volume	Base Symbol	Related Pairs
20,547,572.77	39,409,612.98	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

20,547,572.77

39,409,612.98

Ripple Prepares To Shake Up $150B Market With Imminent Launch Of New Stablecoin

04/04/2024 3:15pm

NEWSBTC

In a notable development, blockchain developer Ripple Labs recently announced its plans to launch a stablecoin pegged 1:1 to the US dollar (USD). Ripple Enters Booming Stablecoin Market According to the company’s announcement on Thursday, the stablecoin’s reserves will consist of US dollar deposits, short-term US Treasury bills, and other undisclosed cash equivalents. All of these will be audited by a third-party accounting firm. Ripple plans to publish monthly certifications to ensure transparency. With the stablecoin market currently valued at around $150 billion, Ripple’s entry is significant. The market is projected to exceed $2.8 trillion by 2028, highlighting the potential for growth and adoption. Related Reading: XRP Battle Cry: Must Rally 70% To Reconquer $1 Peak After Market Turmoil Ripple CEO Brad Garlinghouse emphasized the importance of partnerships with compliant, crypto-native players for success in this space. He highlighted Ripple’s track record in launching new products and acquiring companies across various market cycles. Garlinghouse believes that this move is not only a significant step for Ripple but will also positively impact the XRP Ledger (XRPL) community, driving more use cases, liquidity, and opportunities for developers and users. Institutional And DeFi Adoption Across Multiple Ecosystems Initially, the stablecoin will be available on the XRP Ledger and Ethereum (ETH) blockchains. Ripple plans to expand its presence to additional blockchains and decentralized finance (DeFi) protocols and applications. Monica Long, Ripple President, stated that issuing the stablecoin on XRPL and Ethereum will unlock new opportunities for institutional and DeFi use cases across multiple ecosystems. Long further stated: The XRP Ledger’s native capabilities, including a decentralized exchange and automated market maker, were built to utilize XRP as the bridge asset. Bringing a trusted stablecoin onto XRPL will drive more adoption and development, contributing to a vibrant ecosystem Related Reading: US Govt Moves $90 Million in Bitcoin, ETH From Estonian Scammers Ultimately, Ripple’s stablecoin is expected to launch later this year, pending regulatory approval in the US market. The introduction of this stablecoin is a significant development that has the potential to reshape the stablecoin market while offering new opportunities for institutions, developers, and users alike. Featured image from Shutterstock, chart from TradingView.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

XRPUSD Ripple