Ripple RLUSD investors warned against FOMO as stablecoin trades well above peg pre-launch
Ripple CTO David Schwartz advised potential investors against panic-driven purchases of the Ripple USD (RLUSD) stablecoin prior to its launch. He warned of a possible initial supply shortage that could lead to price fluctuations, with pre-launch offers reportedly reaching 511 XRP, or $1,200. Schwartz noted that early buyers might overpay for the novelty of owning the first RLUSD tokens and cautioned that the stablecoin's price would stabilize around $1, as expected for a well-functioning stable asset. He emphasized that RLUSD is not a speculative investment and discouraged fear-driven purchases, stating it is not an opportunity for quick profits. Ripple aims for RLUSD to enhance institutional transactions and compete in a crowded stablecoin market. The New York State Department of Financial Services has approved RLUSD, with a release date yet to be announced.
