The launch of Ripple’s RLUSD stablecoin is approaching as minting activities ramp up on the XRPL and Ethereum platforms.
Recent developments indicate that Ripple is on the verge of introducing its RLUSD stablecoin, with noticeable advancements in its testing phase on both the XRP Ledger (XRPL) and Ethereum blockchains. The trend of heightened minting activity has attracted attention, suggesting that the stablecoin’s launch may be imminent. Vet, a notable validator on the XRPL, recently brought these developments to light, hinting that the release of the stablecoin could be just around the corner.
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Unusual Minting Patterns Indicate Progress
Vet has noted that the timing and volume of recent mints have diverged from established patterns, signaling a more rigorous testing phase. Recently, the Ethereum blockchain saw a significant surge in minting activity, with Ripple minting 5,515 RLUSD tokens on September 25. This brought the total circulating supply to 6,028 tokens. This batch represents the largest minting effort since the project’s inception in late August, aimed at assessing RLUSD’s functionality on both the Ethereum and XRPL networks. EtherScan data corroborated an earlier mint of 485 tokens prior to this substantial issuance.
Community Speculation Surrounds XRP Price Increase
In the meantime, the excitement surrounding the potential launch of RLUSD has sparked speculation within the XRP community, especially regarding its possible influence on XRP’s price. Some community members have suggested that if a single drop of XRP were to equal the value of one RLUSD, it could propel XRP’s price to new heights.
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These discussions were partly ignited by Vet’s humorous remarks, which criticized the tendency to exaggerate ordinary developments. While RLUSD is pegged to the US dollar at $1, Vet’s comments have nonetheless garnered attention. Crypto Tank, a proactive member of the XRP community, pointed out that a significant rise in XRP’s value could lead to drops becoming a more recognized unit in transactions, reflecting an increased market valuation of XRP. Currently, XRP is priced at $0.5854, still a distance from the $1 level it last reached in November 2021.
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