Expert Predicts Ripple RLUSD Stablecoin Launch Will Spark XRP to $10 Target
In a recent update, a crypto influencer known as Levi’s analysis highlighted the potential impact of recent regulatory developments and the launch of RLUSD on XRP’s market performance, suggesting a potential price increase to $10 per coin. He underscored the significance of recent events, including the SEC’s opposition to its own chair, Gary Gensler, and the introduction of RLUSD, emphasizing their relevance to Ripple and XRP.
Levi Stance on Ripple RLUSD Stablecoin
Levi acknowledged potential confusion regarding the link between a stablecoin like RLUSD and XRP but emphasized that the connection between the two assets would become evident. He noted RLUSD’s launch as a significant move for Ripple and XRP, positioning XRP to achieve higher price levels and benefitting the XRPL ecosystem.
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In addition, Levi discussed the regulatory implications of recent events, particularly focusing on the lack of precision and clarity in the SEC’s approach to cryptocurrency. He suggested potential repercussions for Gensler’s career due to the regulatory ambiguity and highlighted Ripple’s proactive response through the development of RLUSD amid the beta testing phase.
Regarding RLUSD’s market potential, Levi highlighted its capacity to tap into the growing stablecoin market and attract additional trading volume to the XRP Ledger, making it more appealing for DeFi applications. Furthermore, he emphasized that the introduction of RLUSD as a Ripple-backed stablecoin would enhance XRP’s visibility and attract institutional players, potentially resulting in substantial daily trading volume, directly benefiting XRP.
Levi projected that the surge in activity on the XRP Ledger, potentially catalyzed by RLUSD, could drive XRP to reach $10 per coin. He emphasized RLUSD’s role in expanding XRP’s use cases and enhancing its liquidity solutions while acknowledging the possibility of a looming market correction. Despite his optimism for XRP’s long-term prospects, Levi remained cautious about potential short-term corrections.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
