There was great expectation for Ripple USD (RLUSD), the stablecoin issued by the company Ripple Labs (the same station as the XRP cryptocurrency).
Its launch took place on December 17 and the price of XRP skyrocketed on the news, and also in the days leading up to it. But almost 10 days later, RLUSD is not standing out. According to the rankings of price trackers such as CoinGecko or CoinMarketCap, it occupies the 35th position among the stablecoins with the highest market capitalization. This is even below Terra USD (UST), the Terra-Luna ecosystem stablecoin that lost peg to the US dollar and is now worth $0.01!
List of the 10 stablecoins with the highest market capitalization. RLUSD is conspicuous by its absence. Source: CoinGecko. At first glance this It is a great disappointment for those who expected massive adoption from the time of launch. The slow growth in RLUSD adoption is because It is not yet listed on too many recognized exchanges. At the time of this publication, RLUSD can be traded on Bitso, Mercado Bitcoin, Bullish, and a few other exchanges. But this should change soon. Ripple Labs itself has reported that it is working to get the digital asset to other large exchanges such as Bitstamp. Although, in the current state of the industry, It is essential that RLUSD can reach the largest exchanges in the world, Binance and Coinbaseif the company wants adoption to be truly massive. Taking into account that it is a regulated product and—as BitcoinDynamic has explained—with the corresponding state approvals, Its inclusion in various cryptocurrency exchanges should not be a problem.
The success of RLUSD, if it achieves it, will impact the price of XRP, Ripple's volatile cryptocurrency. In general, when there is news that favors Ripple, the price of XRP rises (as if it were a company stock). As of press time, a breakout of a bullish pennant pattern for XRP appears imminent. According to technical analysis, this move has a high probability of resulting in the continuation of an uptrend.