This week in crypto, BeInCrypto unpacks everything from Ripple’s attempts to create its RLUSD stablecoin, Bitcoin facing pullback after the $100,000 milestone, and more.

Cardano founder Charles Hoskinson also promoted a message of unity for all crypto enthusiasts, warning of latent hostility from the banking sector.

Ripple’s RLUSD Stablecoin

On November 29, reports suggested that the New York Department of Financial Services (NYDFS) might soon approve Ripple’s RLUSD stablecoin. New York has always been a critical market for stablecoins, and this approval would be a huge win for Ripple, given its lengthy battle with the SEC and regulators.

Unfortunately, however, these expected gains have yet to materialize. At a recent conference in Prague, CTO David Schwartz discussed some of the speed bumps in this final push. He remained optimistic about Ripple’s chances of launching the asset before the end of the year but acknowledged significant difficulties:

“The annoying part for us is we’re getting close to the holidays, and we have partners that want to hit the ground running. Once you start running into Christmas and New Year’s, people are gone. There’s a lot of moving parts involved, and the big one is the [NYDFS]. They are going over all of our processes, compliance, and all of those things,” Schwartz said.

Still, the company managed to benefit from this hype. By December 4, XRP’s price surge fueled massive growth for meme coins in Ripple’s ecosystem. One particular token, ARMY, reached a peak market cap of $90 million, while RIPPY reached an unprecedented price increase of 22,825%. Both meme coins have since seen notable liquidations.

Unfortunately, however, this bullish tren

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Author: Landon Manning