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There are offers of up to 800 XRP to acquire the stablecoin.
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This is not an investment, as RLUSD should be trading at $1.
The launch of the Ripple company’s RLUSD stablecoin is scheduled for today, December 17 on the main exchanges.
In any case, advance purchases are taking place in some dApps in the Ripple ecosystem (before the “official” release on the market).
RLUSD purchase offers They range from 500 XRP, equivalent to $1,237, to 836 XRP, equivalent to $2,068according to data from Xaman, a self-custody wallet developed for the XRP Ledger ecosystem.
An example of this can be seen in the following image from Xaman, where the price of 1 RLUSD is equivalent to 511 XRP.
RLUSD price in Xaman. Source: _Crypto_Barbie.
“In fact, there is someone willing to pay $1,200 for a small fraction of an RLUSD. The (Xaman) tools will show you the highest price someone is willing to pay, even if it is only by a small fraction,” explained via X David Schwartz, chief technology officer at Ripple Labs.
In this sense, the businessman warns that it is likely that there is a shortage of RLUSD supply in its first days of launch. However, this situation will be quickly corrected once the market stabilizes, he notes.
“If you want to spend a lot of money to get a small amount of RLUSD before anyone else, you can do that. But don’t expect the price to stay above $1 once things stabilize, which I expect will happen very quickly,” Schwartz noted.
Liquidity problems
RLUSD may face liquidity issues in its first hours of trading, which could lead to temporary discrepancies from its $1 peg. However, Schwartz reiterated that this phenomenon should not continue.
Pre-purchasing arises when a new token is launched and there are people who are willing to pay very high prices for them, even if they can only buy a small amount. However, it should be noted that in this case purchasing RLUSD does not constitute an investment as the asset is designed to trade at 1:1 parity with the US dollar.
This enthusiasm for the new stablecoin has boosted the price of XRP, Ripple’s Cryptocurrency, which increased 8% in the last 24 hours and reached $2.6, as seen in the following graph. TradingView.
XRP price. Source: TradingView.
As CriptoNoticias has reported, the stablecoin will be Ethereum/” target=”_blank” rel=”noreferrer noopener”>endorsed by dollar reserves, US government bonds and cash equivalents, which will guarantee its liquidity and stability.
In principle, RLUSD will be listed on five exchanges: Uphold, Bitso, MoonPay, Archax and CoinMENA. In a press release, they added that in In the coming weeks it could be available on additional platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash.
To ensure transparency, Ripple will publish monthly audits of RLUSD reserve assets. These reviews will be carried out by an independent firm and will seek to ensure that the funds support the asset’s parity.
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