- XRP remains unaffected by the recent developments in the Ripple ecosystem.
- RLUSD stablecoins will be launched soon, and XRPL will see smart contract functionalities.
- Bill Morgan doubts if the lawsuit’s conclusion will bring about a significant boost to XRP’s fortunes.
XRP’s price stayed flat despite Ripple’s upcoming RLUSD stablecoin launch and XRPL smart contract integration, sparking debate within the community.
While the Ripple community anticipates these advancements, XRP advocate Bill Morgan recently questioned on X whether these developments were enough to impact XRP’s price, given its current stagnation.
Ripple CEO Brad Garlinghouse had recently revealed the soon-to-launch, dollar-pegged stablecoin, RLUSD. According to Garlinghouse, RLUSD currently is in private beta phase and is slated for release in the coming weeks. Garlinghouse believed the launch of RLUSD could challenge the dominance of other stablecoins like USDC and USDT.
Yet another development on the horizon for Ripple is the incorporation of smart contracts into the XRP Ledger (XRPL) developer ecosystem. While the move has promised multiple use cases, the smart contract feature is set for public release only after thorough feedback from the XRP community.
Despite the hype generated from these news developments, XRP appeared unaffected. At press time, XRP is trading at $0.5542, marking a slight gain of 0.30% in a day. Over the last seven days, the token has seen a decline of 3.10%. However, XRP has surged significantly with more than a 16% increase over the last 30 days. The 12% drop in XRP’s 24-hour trading volume indicates decreased activity within the ecosystem.
Ripple has also been embroiled in a legal battle with the SEC since 2020 regarding the legal status of XRP. The final resolution of the case is still pending but expected soon, as the community anticipates. Many believe that Ripple’s final win against the SEC could propel XRP’s price to new all-time highs.
Expressing skepticism, Morgan questioned if it is reasonable to expect for an XRP price surge when all these recent positive momentum had failed to make an impact on price.
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