{"id":501,"date":"2024-10-01T11:32:37","date_gmt":"2024-10-01T11:32:37","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=501"},"modified":"2024-10-01T11:32:37","modified_gmt":"2024-10-01T11:32:37","slug":"ripple-insider-reveals-how-the-rlusd-stablecoin-will-boost-xrp","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=501","title":{"rendered":"Ripple Insider Reveals How The RLUSD Stablecoin Will Boost XRP"},"content":{"rendered":"
\n

In a revelation on the upcoming Ripple USD (RLUSD) stablecoin, insights emerged from a conversation with a former Ripple employee who was intricately involved in developing Ripple\u2019s On-Demand Liquidity (ODL)<\/a> product. Tony Edward, the host of the popular Thinking Crypto Podcast, shared exclusive details via X after speaking with the former employee at the Mainnet conference.<\/p>\n

How XRP Will Benefit From RLUSD<\/h2>\n

The insider\u2019s view on RLUSD suggests<\/a> a positive synergy with XRP, contrary to fears of potential negative impacts. \u201cThe stablecoin will actually be beneficial for XRP, as it will be paired with it,\u201d the former employee was paraphrased by Edward.<\/p>\n

The former ODL developer added that he has \u201cadvocated for Ripple to launch a stablecoin years ago\u201d because the pairing with XRP will provide RLUSD <\/a>with greater liquidity and help stabilize the stablecoin, thus preventing depegging incidents. \u201cXRP will help provide the stablecoin with greater liquidity since it is available on all exchanges. Additionally, this pairing will help stabilize the stablecoin and prevent depegging,\u201d Edward paraphrased.<\/p>\n

Furthermore, the introduction of RLUSD is poised to unlock new use cases, particularly in the forex markets, expanding Ripple\u2019s reach and utility. \u201cThey also stated that the stablecoin will open up new use cases in forex and much more,\u201d Edward wrote.<\/p>\n

Despite the growing excitement within the crypto community regarding the RLUSD launch, Ripple has recently issued<\/a> a clarification, urging caution and confirming that RLUSD is still in its private beta phase. \u201cRipple USD (RLUSD) is still in private beta, and while you may see on-chain activity, it\u2019s not available yet. Beware of anyone claiming to distribute RLUSD. Keep an eye out for the latest updates, and stay vigilant against scams!\u201d Ripple stated on X.<\/p>\n

Notably, the integration of RLUSD within the XRP Ledger (XRPL) is encountering technical hurdles<\/a>, particularly with the ledger\u2019s current inability to support tokens with a \u2018clawback\u2019 feature<\/a> in its Automated Market Maker (AMM). \u201cRLUSD is a stablecoin with clawback settings enabled. Tokens with this setting are denied by the XRP Ledger to be used in the AMM. There are amendments in the works to help solve this,\u201d explained Vet (@Vet_X0), a recognized XRPL dUNL validator and co-founder of xrp.cafe.<\/p>\n

Growing Frustration With Ripple<\/h2>\n

Amidst these technical challenges, there is a growing sentiment of frustration among the XRP community, particularly voiced by Jungle Inc Crypto News (@jungleincxrp). Concerns are mounting over Ripple\u2019s preparedness for the launch and the perceived shift in focus to Ethereum, which might host RLUSD initially.<\/p>\n

\u201cRipple\u2019s RLUSD stablecoin will lack key capabilities on the XRPL\u2014if it even launches there at all. Reports suggest it could start on Ethereum. [\u2026] The clear focus on Ethereum should be telling. XRP will likely perform well this bull run, but it\u2019s clear it\u2019s no longer a top 3 chain like it used to be. Ripple\u2019s influence on XRPL is no longer as significant as many believed. XRP is a good asset, but not a great one. The goal should be to sell it all during the upcoming bull run. Most price targets should be moved down. This isn\u2019t an asset to hold cycle after cycle.\u201d Jungle Inc expressed<\/a>.<\/p>\n

At press time, XRP traded at $0.62.<\/p>\n

\"XRP<\/div>\n","protected":false},"excerpt":{"rendered":"

In a revelation on the upcoming Ripple USD (RLUSD) stablecoin, insights emerged from a conversation with a former Ripple employee who was intricately involved in developing Ripple\u2019s On-Demand Liquidity (ODL) product. Tony Edward, the host of the popular Thinking Crypto Podcast, shared exclusive details via X after speaking with the former employee at the Mainnet […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-501","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=501"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/501\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}