The impending launch of Ripple’s RLUSD stablecoin is drawing nearer as minting activities ramp up on both the XRP Ledger (XRPL) and Ethereum platforms. Recent movements on these blockchains indicate that the testing phase for the stablecoin is advancing significantly.
These developments come in the wake of a marked increase in minting activity, suggesting that the release of the stablecoin is just around the corner. Vet, a well-known validator on the XRPL, has brought attention to this uptick, hinting that the launch could be imminent.
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**Unusual Minting Activity Indicates Progress**
As noted by Vet, the frequency and scale of recent minting operations have diverged from established trends, highlighting a more focused testing endeavor. Most notably, on September 25, Ripple engaged in its largest minting activity to date on the Ethereum blockchain, producing 5,515 RLUSD tokens. This latest issuance brought the total circulating supply to 6,028 tokens.
This substantial batch, the largest since the project kicked off in late August, is designed to test RLUSD’s functionality on both the Ethereum and XRPL networks. EtherScan data corroborated an earlier mint of 485 tokens prior to this recent issuance.
**Community Speculation Surrounding XRP Price Surge**
Simultaneously, the excitement surrounding the forthcoming RLUSD launch has ignited speculation within the XRP community, particularly concerning its potential effects on XRP’s market value. Some community members have suggested that if a single drop of XRP were to equal the value of one RLUSD, it could lead to a significant increase in XRP’s price.
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These conversations were partially fueled by Vet’s humorous remarks, which critiqued the tendency to exaggerate commonplace developments. Despite RLUSD being pegged to the US dollar at $1, Vet’s comments have nonetheless caught widespread attention.
Crypto Tank, an engaged member of the XRP community, highlighted that if XRP’s price were to surge, drops could become a more accepted unit in transactions, mirroring XRP’s heightened market value. Currently, XRP is trading at $0.5854, a considerable distance from the $1 mark it last achieved in November 2021.
**Disclaimer:** This article is intended for informational purposes only and should not be interpreted as financial advice. The opinions expressed herein may reflect the author’s personal views and do not necessarily represent those of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.