In a recent video commentary, cryptocurrency influencer Levi discussed Ripple’s upcoming RLUSD stablecoin and its potential impact on XRP.
Levi suggested that new developments in regulatory clarity combined with the launch of RLUSD could drive the price of XRP higher, potentially pushing the price to $10 per coin.
Levi noted a series of important events and expressed surprise at recent developments surrounding XRP. He highlighted the SEC’s recent opposition to SEC Chairman Gary Gensler and the importance of minting RLUSD to Ripple and XRP.
Levi acknowledged that some viewers may be confused about the relationship between RLUSD and stablecoins like XRP. However, he stressed that the relationship between the two assets will be clarified.
Market commentators pointed out that the RLUSD stablecoin is one of the most important recent moves for Ripple and XRP. According to him, the launch will be beneficial to the XRPL ecosystem and position XRP to reach new price levels.
Regulatory impact
Levi also mentioned a key moment in the most recent SEC Congressional Hearing, when Representative Patrick McHenry questioned SEC Commissioner Hester Peirce about regulatory ambiguities surrounding cryptocurrencies.
Peirce acknowledged that the SEC’s approach to cryptocurrencies lacked precision and clarity, a perception that resonated strongly with Levi’s audience.
Mr. Levi suggested that Mr. Gensler’s career could be in jeopardy from this regulatory turmoil. Republican presidential candidate Donald Trump has already vowed to fire Gensler, and Ripple CEO Garlinghouse believes Gensler could resign even if Kamala Harris wins. There is.
According to Levi, Ripple is already leveraging new developments in regulatory clarity by promoting RLUSD. During the beta testing phase, Ripple added its data to CoinGecko and minted millions of RLUSD.
RLUSD Market Potential and Impact on XRP
According to Levi, one of the most exciting aspects of RLUSD is its potential to tap into the growing stablecoin market, which currently holds hundreds of billions of dollars.
Stablecoins such as USDT and USDC have proven essential to liquidity in the crypto market, and Levi believes RLUSD can capture a piece of that market. This will increase the trading volume of the XRP Ledger, making it more attractive for DeFi applications.
Levi emphasized that introducing RLUSD as a Ripple-backed stablecoin will increase the visibility of XRP and attract institutional investors. In the past, Ripple’s institutional partners relied on other stablecoins such as USDT and USDC for trading due to legal restrictions on XRP.
Now, with RLUSD, financial institutions can use stablecoins built on Ripple’s own infrastructure to flow more volume and liquidity through the XRP Ledger. Levi believes this change could directly benefit XRP by increasing daily trading volume to billions of dollars over the next year.
XRP Road to $10
Levi went on to predict that XRP could reach $10 per coin, likely due to a potential surge in XRP ledger activity driven by RLUSD.
He noted that stablecoins will be important in expanding XRP’s use cases, from payment services to liquidity solutions for small-market crypto assets.
Ripple President Monica Long also emphasized that although RLUSD and XRP serve different purposes in the payments ecosystem, the two assets complement each other and bring more volume to XRPL. The Ripple CTO also asserted that RLUSD is not a replacement for XRP.
However, despite his optimistic outlook for XRP, Levi remained cautious and suggested a market correction could be imminent.
He noted that the market has seen a significant rally and there are some signs that a pullback may be imminent. Levi predicted that although XRP may experience a correction in the short term, the long-term outlook is very positive.
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