TechFlow News, December 16 — According to Cointelegraph, Ripple CTO David Schwartz tweeted that the company's upcoming dollar-pegged stablecoin, RLUSD, may face "supply shortages" initially, urging investors to remain rational and avoid FOMO-driven buying.
Currently on Ripple’s ecosystem wallet Xaman, traders have placed buy orders for RLUSD as high as $1,200 (approximately 511 XRP). In response, Schwartz explained that such inflated prices are simply due to individuals seeking the "honor" of securing the first transactions, emphasizing that RLUSD’s price will ultimately return to its 1:1 USD peg.
Earlier, on December 11, Ripple CEO Brad Garlinghouse announced that RLUSD had received final approval from the New York State Department of Financial Services (NYDFS), with the company stating it would be "launched soon."
