30s Summary

XRP’s six-week surge towards the $3 mark has slowed, with its price dropping to $2.3, a 2% decrease. This comes amid the introduction of XRP’s stablecoin, RLUSD, onto the XRP Ledger and Ethereum blockchains, expected to boost XRP adoption as a payment system. Ripple’s tech chief has warned about possible supply issues and price changes with RLUSD’s launch, likely to settle at worth $1. Investment in XRP futures has increased, suggesting optimism for crypto-friendly regulations and RLUSD’s debut. XRP/USD is expected to rebound and could hit $15, a 520% rise, despite current adjustments.

Full Article

XRP, a popular cryptocurrency, has hit a bit of a speed bump after a fantastic six-week run. The slowing down of profit taking has put a dent in XRP’s march towards the $3.00 mark, causing the cryptocurrency’s price to drop to $2.3, a 2% decrease.

These last few weeks have been exciting, not just because the cryptocurrency’s price increased threefold in six weeks, but also due to XRP’s upcoming stablecoin, RLUSD. The new digital coin, equivalent to the value of the U.S. dollar, is being introduced to the XRP Ledger and Ethereum blockchains. It’s expected to drive XRP’s adoption as a payment system, especially in emerging economies.

The head tech guy at Ripple, David Schwartz, gave a heads-up to potential investors about possible supply problems and price changes when RLUSD launches. He also responded to concerns about pre-launch offers that seem to be inflating the price of the RLUSD.

It seems some people are just looking for the thrill of holding the first RLUSD tokens. Despite these early fluctuations, Schwartz assures that the stablecoin price should settle around its intended value of $1 once everything evens out.

Meanwhile, the amount of money being invested in XRP futures has spiked, which could be due to the hope for crypto-friendly regulations and the upcoming RLUSD launch.

In terms of price trends, XRP/USD should be expected to bounce back despite the recent adjustment. A “bull flag” pattern seems to be forming, which usually indicates that prices will rise. So, there’s a potentially big increase to about $15 on the cards, which would be a whopping 520% upswing from where it’s currently at. Just remember, investing in crypto can be risky, and it’s always good to do some homework before making any financial moves.