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International Business Times
International Business Times
Business
Marvie Basilan

1 $RLUSD – Frustration Mounts Over Reports Some Investors Swapping $XRP For Ripple Stablecoin

Ripple United States XRP Crypto
Ripple's $RLUSD went live on some global exchanges Tuesday. (Credit: Cryptocurrency.com/flickr)

KEY POINTS

  • $RLUSD is pegged to the U.S. dollar and 'is not an opportunity to get rich'
  • Some investors were willing to pay up to 511 $XRP tokens for the first few $RLUSD coins
  • An analyst said $XRP's spike stopped because of people who were trading their $XRP coins for $RLUSD

The cryptocurrency community was in a frenzy Tuesday night after Ripple's stablecoin RLUSD launched in select exchanges worldwide – over 700,000 posts were about "1la RLUSD" as crypto holders raced to explain why the stablecoin traded at $1.50 at one point earlier in the day on MoonPay.

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