Ripple (XRP) Finally Breaks Silence on Its Long-Awaited Digital Asset, RLUSD

After Ripple minted 99% of the RLUSD Stablecoin supply, CNF highlighted the signaling of an imminent launch in the stablecoin market.

Cryptocurrency giant Ripple has finally addressed the much-anticipated launch of its digital asset, Ripple USD (RLUSD), after weeks of speculation.

However, the San Francisco-based firm has clarified that the stablecoin is still in private beta and not yet available to the public.

Ripple also highlighted a wave of unverified reports and opinions in the crypto community, sparking rumors about the stablecoin’s launch.

In response, Ripple took to the X official account to provide an update on RLUSD, emphasizing that any on-chain activity is part of testing.

The crypto giant also urged users to be wary of claims regarding the distribution of RLUSD, warning against scams.

Here's a closer look at the latest development.

Ripple USD (RLUSD) is still in private beta, multiple attestations of on-chain activity are part of testing.

Beware of anyone claiming to distribute #RLUSD. Stay tuned for the latest updates and be vigilant against scams.

After Ripple minted 99% of the stablecoin supply, CNF highlighted the signaling of an imminent launch in the stablecoin market.

As reported by CNF earlier, XRPL announced two major amendments (“fixEmptyDID” and “fixPreviousTxnID”) to expand its use cases and position it for market domination.

Moreover, recent reports indicated significant on-chain activity involving RLUSD, with Ripple minting approximately 800,000 tokens, representing 99% of the initial supply.

Additionally, 125,000 RLUSD were transferred to Binance, which Ripple later clarified was part of testing ahead of the official release.

However, the stablecoin launch on its native XRP Ledger (XRPL) is reportedly facing delays due to functionality issues related to the clawback feature, limiting its use in XRPL’s automated market maker.

According to CoinMarketCap data today, Ripple (XRP) is trading at $0.6208 with a decrease of 3.40% in the past day and an increase of 5.82% in the past week. See the XRP price chart below.

To this end, while RLUSD may encounter obstacles on the XRPL, it faces no such problems on Ethereum, where the stablecoin could potentially gain more traction.

Ripple’s announcement has helped clear the uncertainty, but the crypto community is still waiting for more updates on the stablecoin’s official release and functionality.

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