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Breaking: Ripple Moves to Launch Stablecoin on XRP Ledger, XRP Soars 4%

Published 04/04/2024, 09:43 PM
Updated 04/04/2024, 09:45 PM
© Reuters.  Breaking: Ripple Moves to Launch Stablecoin on XRP Ledger, XRP Soars 4%
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  • Ripple has disclosed its intention to launch a stablecoin pegged 1:1 to the USD on the XRP Ledger.
  • Ripple noted that projections suggest the stablecoin market would surge beyond $2.8 trillion by 2028.
  • XRP’s value surged by over 4% to above $0.6 following the announcement.

Renowned crypto platform Ripple has disclosed its intention to launch a stablecoin pegged 1:1 to the USD on the XRP Ledger and Ethereum. The firm disclosed this move in a statement via its official X account in the last few hours.

The notification highlighted Ripple’s observation of the flourishing stablecoin market, currently valued at approximately $150 billion. Ripple noted that projections suggest the stablecoin market would surge beyond $2.8 trillion by 2028. To this end, Ripple announced its initiative to introduce a stablecoin pegged 1:1 to the USD.

Furthermore, the compa…

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