Ripple is preparing to introduce a stablecoin pegged to the U.S. dollar, which will complement its existing XRP token and is expected to enhance its utility and value.
The combination of this stablecoin with XRP has the potential to drive its price to $1, thanks to the improved functionality and broader market access it will offer.
While the community eagerly awaits the launch of an XRP ETF, as previously confirmed by Ripple President Monica Long in a CNF post, there is now exciting news on the horizon. Long has announced Ripple’s innovative stablecoin strategy, which is poised to bring about significant changes in the cryptocurrency landscape.
Blockchain researcher and crypto enthusiast Collin Bowns shared this groundbreaking announcement in a recent tweet, revealing that President Monica Long of Ripple has unveiled their highly anticipated stablecoin, which is set to revolutionize the crypto scene.
In an interview with CNBC on Ripple and the crypto market outlook, Monica Long stated that this innovative stablecoin will not only coexist with XRP, but will also “complement” it, creating a powerful synergy that will elevate both assets to new heights.
Despite the introduction of a stablecoin, XRP will continue to play a crucial role as a bridge asset for currency pairs and for facilitating liquidity between different types of assets, particularly in tokenization scenarios.
Additionally, Ripple’s Middle East and Africa Director has confirmed their readiness to launch the stablecoin, which has resulted in a slight increase in the price of XRP. As of the time of writing, Ripple (XRP) is trading at $0.4751, with a modest increase of 0.30% in the past day, despite a 3.17% weekly decrease.
