Ripple’s Monica Long Announces Innovative Stablecoin to ‘Complement’ XRP

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  • Ripple is set to launch a U.S. dollar stablecoin, complementing XRP and aiming to boost its utility and price.
  • The integration of this stablecoin with XRP could potentially propel its price to $1, given the enhanced functionality and market reach.

While the community eagerly awaits the anticipated launch of an XRP ETF, confirmed previously by Ripple President Monica Long in a CNF post, exciting news has surfaced. Monica Long has announced Ripple’s game-changing stablecoin strategy, set to revolutionize the crypto landscape.

Collin Bowns, a blockchain researcher and crypto enthusiast, shared this groundbreaking announcement in a recent tweet. According to him, President Monica Long of Ripple has unveiled their highly anticipated stablecoin, poised to revolutionize the crypto scene.

According to Monica Long in an interview with CNBC on Ripple and the crypto market outlook, this innovative stablecoin will not only coexist with XRP but will also “complement” it, creating a powerful synergy that will elevate both assets to new heights.

Can Integration of XRP with the Stablecoin Propel Price to $1?

As XRP will continue to play a vital role even with the introduction of a stablecoin, it is envisioned as a bridge asset for currency pairs and for facilitating liquidity between different types of assets, particularly in tokenization scenarios.

On the other hand, following a CNF update, Ripple’s Middle East and Africa Director confirmed their readiness to launch the stablecoin, which led to a slight increase in the price of XRP. At the time of writing, Ripple (XRP) trades at $0.4751 with a modest increase of 0.30% in the past day, despite a 3.17% weekly decrease. See XRP’s price chart performance below.

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