RLUSD Hype: XRPL Validators Massive Counter of $1,000 XRP Claims
RLUSD, Ripples upcoming stablecoin, has sparked new speculations about XRP reaching a four-digit price. Vet, a prominent XRPL validator, has once again clarified the situation. Rumors recently circulated suggesting that RLUSD could push XRP to $1,000, fueled by an unusual transaction on the XRP Ledger (XRPL) decentralized exchange (DEX).
On September 26, at 05:57 UTC, an address created a DEX Offer on XRPL involving RLUSD. The offer, which aimed to trade 5.911 XRP for 5,911 RLUSD, sparked excitement among the XRP community. If fulfilled, this would value each XRP token at $1,000. On-chain data from XRPScan confirms the details of the offer, which fueled speculation that RLUSDs launch could catapult XRP to unprecedented levels.
Local media even reported that some community members were predicting XRP could one day reach $1 million if RLUSD were to become equivalent to one drop of XRP. However, Vet was quick to dismiss these claims, stressing that the strange DEX Offer does not reflect reality.
Vet explained that a DEX Offer is just a request for trade, anyone can create one, no matter how extreme the terms. For this offer to be accepted, someone would need to willingly trade nearly $6,000 worth of the new stablecoin for just 6 XRP. Given the current market price of XRP at $0.63, this seems highly unlikely.
Ripple Confirms RLUSD Still in Testing
While speculative plays like this can capture attention, they dont indicate broader market trends. Vet pointed out that even if someone accepts this bizarre offer, it wouldnt push XRP to $1,000. It would only fulfill a single transaction, not shift the market.
Moreover, the RLUSD project is still in its beta phase, and any claims that its live are false. Ripple has already debunked such misinformation. Vet reiterated that no reasonable market participant would agree to the outlandish terms, and the offer should not be taken as a sign of XRPs future value.
In short, Vets message was clear, dont let speculative offers cloud your judgment.
Read more: https://www.tronweekly.com/rlusd-hype-xrpl-validator-counter-1000-xrp/
Text source: TronWeekly
