TL;DR

• Ripple’s stablecoin RLUSD gained support from another well-known cryptocurrency exchange.
• XRP rebounded to $2.27 after a correction, with analysts predicting a substantial rally in the short term.

The Next Exchange to Jump on the Bandwagon

After months of testing and preparation, Ripple’s stablecoin officially went live mid-December. This became possible after the New York Department of Financial Services (NYDFS) approved it.

The product, called RLUSD, is pegged 1:1 to the American dollar and designed to play a crucial role in Ripple’s cross-border payment solutions. Upon launch, the stablecoin was embraced by multiple cryptocurrency exchanges, such as Uphold, Bitstamp, Bitso, Moonpay, CoinMENA, and others.

Most recently, the Peter Thiel-backed Bullish also joined the list. The company announced that users can deal with the following trading pairs: RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD. 

Earlier this month, Ripple’s CTO David Schwartz warned the community about a potential volatility surrounding the product. He said there might be initial fluctuations but eventually the price should settle around $1. The exec also