Ripple Added New Info About RLUSD on its Official Website

Ripple Labs. recently added on its official website details about its upcoming stable coin that will be released later this year.

As of August 4, detailed information about Ripple’s stablecoin is available on the company’s website, noting that its availability is subject to regulatory approval.

The purpose of the stablecoin, RLUSD, is to store, buy, and trade U.S. dollars in the chain and for payments. The coin will be pegged to $1 and issued in both the XRP Ledger and the Ethereum blockchain.

At the time of writing, XRP was trading at $0.53, reflecting a 5% loss on the day and 12% overall over the past month, after losing key psychological support at $0.60.

XRP could potentially extend its losses, reaching support at $0.50. If it dives into the imbalance zone between $0.4780 and $0.5136, it could fill the gap and try to recover. After this correction, XRP could rise towards $0.70.