Ripple’s RLUSD Stablecoin Sparks Speculation Amid Beta Testing, 1.7M Tokens Minted in Five Days
Prominent XRP community figure WrathofKahneman has addressed recent rumors surrounding Ripple’s upcoming stablecoin, RLUSD. These speculations have been circulating on social media, with some hype accounts claiming that Ripple has rapidly minted a large portion of the RLUSD supply within just 24 hours.
RLUSD Stablecoin Minting Gains Traction
The rumors began after the Ripple Stablecoin Tracker reported a significant increase in the minting of RLUSD tokens. As of September 24, Ripple’s RLUSD supply surged to 563 tokens after 485 RLUSD were minted in a single transaction. This marked the largest mint during the stablecoin’s beta testing phase.
Since then, Ripple has minted over 1.7 million RLUSD tokens in just five days across 14 transactions. The largest issuance occurred on September 29, with 480,000 RLUSD tokens minted on the XRP Ledger (XRPL).
WrathofKahneman Clarifies Speculations
As rumors spread, some claimed that Ripple had minted 80% of RLUSD’s supply in one day, while others speculated that 100% of the supply had already been issued. WrathofKahneman addressed these claims, emphasizing that RLUSD is still in beta testing and has not been released for official use. He noted that there is no formal reserve attestation for the token yet and urged the community to remain patient.
RLUSD’s Impact on the XRP Community
The RLUSD stablecoin is currently being tested on both the XRP Ledger and Ethereum networks. While Ripple has not confirmed an official launch date, speculation within the XRP community suggests that the stablecoin could significantly impact XRP’s price. Some influencers even claim that XRP could soar to $1 million if RLUSD, pegged at $1, boosts XRP’s value. However, these predictions remain unconfirmed.
As of now, XRP continues to perform well in the market. At press time, it is the top performer among the top 20 cryptocurrencies, with a 24-hour gain of 4.88%. XRP is currently trading at $0.6481 with a daily volume of $2.58 billion.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct thorough research before making any investment decisions.
