Ripple’s upcoming RLUSD stablecoin is generating significant excitement ahead of its official release on Tuesday, with bids reaching up to 836 XRP ($2,068) on onchain marketplaces. These high bids indicate a surge of interest from enthusiasts eager to be among the first to hold the highly anticipated token.
As of Tuesday morning in Asia, bids for RLUSD range from 500 XRP ($1,237) to as high as 836 XRP ($2,068), with each XRP priced just under $2.50. This frenzy was observed on the Xaman platform, according to CoinDesk.
Ripple Labs CTO David Schwartz addressed the situation, revealing that some bidders are willing to pay up to $1,200 for a tiny fraction of one RLUSD token. He explained that these prices reflect the eagerness of collectors or speculators looking to be the first to own a piece of the new stablecoin. “Maybe someone wants the ‘honor’ of buying the first bit of RLUSD on the DEX,” Schwartz remarked on Monday.
Despite the high bids, Schwartz reassured the community that once the market stabilizes, the price of RLUSD would likely return to its intended peg of $1. “Rest assured, the price will come back to very close to $1 as soon as supply stabilizes,” he said. He added, “If it doesn’t, something is very seriously wrong.”
Speculators often engage in such high-priced transactions to gain early access to new tokens or to capitalize on the novelty of holding one of the first available units. As RLUSD is new to the market, it might face liquidity challenges in the initial hours after launch, which could lead to brief price fluctuations away from its $1 peg. However, since each token is redeemable for $1, any temporary depegging is expected to be short-lived.
RLUSD will launch on the XRP Ledger (XRP) on Tuesday, with initial listings on platforms such as Uphold, MoonPay, Archax, and CoinMENA, as previously reported by CoinDesk.
