Pro-XRP lawyer Bill Morgan warned of potential fear, uncertainty, and doubt (FUD) impacting XRP price ahead of Ripple’s RLUSD stablecoin launch. Ripple CEO Brad Garlinghouse announced the stablecoin at the XRP Ledger Community Summit in Amsterdam, sparking excitement and speculation.
Morgan cautioned that misinformation might temporarily affect XRP’s market performance. Despite this, Ripple aims for RLUSD to stabilize transactions on the XRP Ledger (XRPL) by maintaining a fixed link to the U.S. dollar. This move is expected to enhance XRPL’s utility and attract a diverse user base, including blockchain enthusiasts and financial professionals.
As of the announcement, XRP price was up 1.14% at $0.4866, though trading volume fell 5.10% to $1.25 billion. This development underscores Ripple’s strategic push to strengthen its market position and promote stable digital transactions.
