Ripple’s new RLUSD stablecoin is gearing up for launch on the XRP network—and it’s already making waves, sending the price of XRP soaring by double digits over the past week.
Although XRP was launched by the co-founders of Ripple Labs, the company has gone to great lengths to stress that it’s not the issuer of the token—not surprisingly, given that the firm is the subject of a long-running legal battle with the SEC over sales of XRP.
Still, crypto traders tend to consider good news for Ripple Labs as being bullish for XRP, and have taken the approval of RLUSD by New York regulators as a positive sign.
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