XRP has surged significantly this month, driven by bullish momentum and widespread gains in the cryptocurrency market. Investor interest and positive sentiment have fueled this rally, positioning XRP as a standout performer. In this article, let’s explore how high XRP price could go if Ripple potentially launched RLUSD tomorrow.
How High Can XRP Price Go if Ripple Launches RLUSD Tomorrow?
Ripple Labs has secured approval from the New York Department of Financial Services (NYDFS) to launch its RLUSD stablecoin. CEO Brad Garlinghouse announced the approval on December 10, stating that exchange and partner listings will be revealed soon.
This just in…we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.
— Brad Garlinghouse (@bgarlinghouse) December 10, 2024
The altcoin price surged 491% between October 28 and December 2, 2024. This recent rally has heightened speculation about another price uptrend following the RLUSD launch. The stablecoin is expected to significantly impact XRP’s value due to its integral role in the RLUSD ecosystem.
XRP facilitates RLUSD liquidity, enabling buying, selling, and settlement processes while supporting fast, low-cost transactions. It may also serve as collateral to back RLUSD issuance and promote interoperability across blockchain networks.
The value of XRP is currently trading at $2.33, surging 7% in the past 24 hours. Short-term price targets are projected at $5-$6, representing up to 150% gains. Medium-term projections reach $8-$10, while long-term forecasts place XRP at $15-$20, marking a 500% increase. Ripple’s RLUSD launch could ignite substantial growth for XRP.
Other Factors That Could Propel XRP Besides RLUSD Launch
XRP may see a price surge due to factors beyond the anticipated RLUSD launch. Regulatory clarity, including favourable decisions in key markets, could boost confidence in XRP and other crypto markets. Increased adoption for cross-border payments and remittances and integration into payment platforms add to its potential.
Ripple’s growing network of partnerships with financial institutions and corporations also strengthens XRP’s use cases. Technological advancements, such as XRP Ledger upgrades and new DeFi applications, enhance utility. The broader crypto market’s upward trend, highlighted by Bitcoin nearing $97,000, could amplify interest in XRP and similar assets.
Ripple’s RLUSD launch could propel XRP’s price to new highs, fueled by adoption, partnerships, and a bullish market. Strategic developments position XRP as a pivotal asset in the evolving crypto landscape.
The post How High Can XRP Price Go If Ripple Launches RLUSD Tomorrow? appeared first on CoinGape.
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