Key Highlights:
- Ripple's soon-to-be-launched RLUSD stablecoin is seeing bids reach up to 836 XRP on on-chain markets, even with its price tethered to $1.
- Investors are actively participating in premium transactions for small amounts of the new token as a digital collectible.
- RLUSD will officially launch on the XRP Ledger (XRP) on Tuesday.
Ripple's RLUSD stablecoin is generating substantial interest as it approaches its release, with offers ranging from 500 XRP to 836 XRP noted during the early hours of Tuesday in Asia, as observed on the Xaman application. Each XRP is trading just below $2.5, according to data.
"There actually is someone willing to pay $1,200/RLUSD for a tiny fraction of one RLUSD," stated David Schwartz, CTO of Ripple Labs, in a post on Monday. "Tools will show you the highest price anyone is willing to pay, even if it’s just for a tiny bit. Maybe someone wants the 'honor' of buying the first bit of RLUSD on the DEX."
Translation: "C'è veramente qualcuno disposto a pagare 1.200 dollari/RLUSD per una frazione di RLUSD."
Schwartz further remarked, "But rest assured, the price will stabilize near $1 once supply normalizes. If not, there will be serious issues."
Speculators typically engage in these high-value trades for minimal amounts of new tokens or NFTs to secure early access or capitalize on the uniqueness of owning the inaugural batch.
It is possible that RLUSD may not have sufficient liquidity to uphold its peg effectively shortly after its launch, resulting in temporary price variances from the $1 target. Nevertheless, each token is guaranteed to be redeemable for $1, and it is improbable that it will remain detached from the peg for long.
Additionally, RLUSD is set to debut on the XRP Ledger on Tuesday, and it will be listed on various exchanges and platforms, including Uphold, MoonPay, Archax, and CoinMENA.
