Ripple's RLUSD: A threat to Tether and a possible boost for the XRP price
The approval of Ripple's stablecoin RLUSD by the New York financial authority marks a historic moment for the stablecoin market and Ripple itself. In addition to the regulatory clarity and global reach that RLUSD offers, a significant impact on the price of XRP is also expected, as RLUSD is closely linked to Ripple's payment network.
RLUSD: The stablecoin challenge for Tether
RLUSD offers not only regulatory security but also technological innovation, making it a potential market leader:
• Full regulatory support: Tether is often criticized for its lack of transparency, while RLUSD represents a verified and regulated alternative.
• Global availability: Integration into RippleNet and partnerships with players like SWIFT and banks in Japan and Mexico give RLUSD a competitive advantage.
• Affordable and fast transactions: RLUSD is optimal for the growing demand for cost-effective and speedy payments, especially in the institutional sector.
Possible impacts on the XRP price
The introduction of RLUSD could have massive impacts on the price of XRP, as it serves as the basis for stablecoin transactions. Analysts estimate:
• Short-term price increase: Once RLUSD is used on a large scale, XRP could rise to 5-7 USD by the end of 2024.
• Mid-term price targets: With increasing market share and global acceptance of RLUSD, XRP could reach prices of 10-15 USD by the end of 2025.
• Long-term forecasts: If Ripple expands its position as a leading provider of blockchain payment solutions and captures 20-30% of the stablecoin market, the XRP price could reach the 20-30 USD mark by 2030.
Ripple's global strategy and Tether's decline
With the launch of RLUSD and collaborations with the Federal Reserve, Hedera, and BRICS countries, Ripple positions itself as a global market leader. Tether will come under pressure as institutional investors increasingly turn to regulatory-secured stablecoins.
Conclusion: XRP on the rise
The combination of RLUSD, regulatory security, and Ripple's global strategy could not only establish XRP as a market leader in the stablecoin sector but also significantly increase its price in the long term.
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