There was great expectation for Ripple USD (RLUSD), the stablecoin issued by the company Ripple Labs (the same station as the XRP Cryptocurrency).
His launch It occurred on December 17 and the price of XRP skyrocketed on the news, and also in the days leading up to it.
But almost 10 days later, RLUSD is not standing out. According to the rankings of price trackers such as CoinGecko or CoinMarketCap, it occupies the 35th position among the stablecoins with the highest market capitalization.
This is even below Terra USD (UST), the Terra-Luna ecosystem stablecoin that lost peg to the US dollar and is now worth $0.01!
List of the 10 stablecoins with the highest market capitalization. RLUSD is conspicuous by its absence. Source: CoinGecko.
At first glance this It is a great disappointment for those who expected massive adoption from the time of launch.
The slow growth in RLUSD adoption is because It is not yet listed on too many recognized exchanges. At the time of this publication, RLUSD can be traded on Bitso, Mercado Bitcoin, Bullish, and a few other exchanges.
But this should change soon. Ripple Labs itself has reported which works to get the digital asset to other large exchanges like Bitstamp.
Although, in the current state of the industry, It is essential that RLUSD can reach the largest exchanges in the world, Binance and Coinbaseif the company wants adoption to be truly massive.
Taking into account that it is a regulated product and – as CriptoNoticias has explained— with the corresponding state approvals, Its inclusion in various cryptocurrency exchanges should not be a problem.
The success of RLUSD, if it achieves it, will have an impact on the price of XRP, Ripple’s volatile cryptocurrency. In general, when there is news that favors Ripple, the price of XRP rises (as if it were a company stock).
At the time of this publication, a breakout of a trading pattern appears imminent. bullish pennant for XRP. According to technical analysis, this move has a high probability of resulting in the continuation of an uptrend.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
