Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Cryptocrit on April 06, 2024, 06:27:42 PM
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(https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFX7FiV-qaqSTZIYQsygg1OsYvYwAQylJ9pDDeT__cGOLzLHXAofEoA_O-0xtihe_ICR13Rs-f12c8vzLS4pzIY73iXOVwlD7UKiDLQnyNde_L1WvP-jKyc2HDtwHJ1pDAfB3wFFIDvHhFxrY0kT7JVEg0HNn5pbrP7pqc_S0I16O_E9kTFt-53f9S2k0g/w640-h638/Screenshot_16.jpg)
Ripple aims to enter the stablecoin market, which is currently dominated by Tether (USDT) and USD Coin (USDC), by offering its own U.S. dollar-backed stablecoin. The presence of the stablecoin on the XRP Ledger could enhance liquidity and potentially increase the value of XRP.
Read in details.....
https://www.cryptocrit.xyz/2024/04/Ripple-today-news.html (https://www.cryptocrit.xyz/2024/04/Ripple-today-news.html)
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Ripple is introducing their own Stablecoin because of Tether's de-pegging of their stablecoin another reason is.
A Ripple stablecoin would also serve a purpose the crypto giant touts as part of its On-Demand Liquidity product, which aims to settle transactions rapidly between banks and other financial firms using the XRP token as a “bridge” currency.
https://www.cnbc.com/2024/04/04/crypto-firm-ripple-to-launch-us-dollar-stablecoin.html
This is a positive move for XRP and this could give them a big boost in the market, this is a piece of developing news so let's see if the SEC will block that move, SEC has been a thorn in XRP's existence and they have reasons to do so.
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XRP believes that the stable currency market has exceeded $100 billion, and there is a possibility that this market will greatly inflate in 2025, as many may not be inclined to sell Bitcoin for cash and be satisfied with stablecoins.
Therefore, there is high demand and increasing demand, and they will try to benefit from it, but it will definitely not be 1:1 dollar, but rather promises that it will maintain the value of 1 dollar.