Ripple has made headlines recently with two major announcements: the upcoming launch of its RLUSD stablecoin and the integration of smart contracts into the XRP Ledger (XRPL). However, despite these promising developments, XRP’s price remains relatively flat, sparking debate within the crypto community.
At the center of the discussion is XRP advocate Bill Morgan, who took to X (formerly Twitter) to express his skepticism. Morgan questioned whether these advancements would significantly impact XRP’s price, given its current stagnation. This sentiment has resonated with many in the XRP community who had high hopes for these announcements.
Ripple CEO Brad Garlinghouse recently revealed that the RLUSD, a dollar-pegged stablecoin, is currently in private beta. The stablecoin is expected to launch in the coming weeks, and Garlinghouse is optimistic that it will rival dominant players like USDC and USDT. He also suggested that RLUSD could offer new liquidity solutions, potentially enhancing the utility of XRP.
Beyond RLUSD, Ripple has been working to incorporate smart contracts into the XRPL ecosystem. This integration is seen as a game-changer, allowing developers to build decentralized applications (dApps) and automate various financial processes on the XRP Ledger. Although this feature is still in the testing phase, its release is expected soon following community feedback.
Despite the buzz, XRP’s price performance tells a different story. At press time, XRP was trading at $0.5542, reflecting a modest gain of just 0.30% over the last 24 hours. Over the past week, the token has dipped by 3.10%. Yet, on a broader scale, XRP has surged by more than 16% over the last 30 days, signaling some underlying strength. However, the token’s trading volume has decreased by 12% in the past 24 hours, suggesting reduced market activity.
Adding to the uncertainty is Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The case, which has been dragging on since 2020, revolves around the classification of XRP as a security. The final ruling is expected soon, with many speculating that a win for Ripple could send XRP’s price soaring to new highs.
Also Read: Ripple’s $125M Penalty On Hold – XRP Price Dips 3.5% Amid Legal Uncertainty
Yet, Morgan and others in the community remain cautious. “Is it realistic to expect an XRP price surge when all these positive developments have failed to move the needle?” Morgan asked, highlighting the uncertainty surrounding XRP’s future performance.
As Ripple gears up for the launch of RLUSD and smart contract integration, the question remains: Will these innovations be enough to trigger a significant price rally for XRP, or will legal and market factors continue to weigh it down? For now, the XRP community watches closely, hoping for the breakthrough that has so far eluded them.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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