Pro-XRP lawyer Bill Morgan warns of potential XRP price FUD amid hype over Ripple’s upcoming RLUSD stablecoin.
Concerns over possible fear, uncertainty, and doubt (FUD) affecting XRP price amid the buzz around Ripple’s stablecoin have been voiced by pro-XRP attorney Bill Morgan.
Notably, Ripple recently announced the launch of RLUSD, its upcoming stablecoin.
Within the cryptocurrency world, the announcement made by Ripple CEO Brad Garlinghouse at the XRP Ledger World Summit in Amsterdam has generated both anticipation and conjecture.
Bill Morgan, an attorney who supports XRP, has cautioned against investing in Ripple’s stablecoin, despite the positive reaction to it.
In light of this, well-known cryptocurrency enthusiast Moon Lambo commended the advancement on social media.
Bill Morgan commented on that and cautioned that there might be a spike in FUD affecting the price of XRP in the run-up to the launch of the RLUSD stablecoin.
“The FUD that the Ripple stablecoin will be bad for XRP will accelerate like crazy between now and when the stablecoin goes live,” Morgan said. “As sure as the sun rises in the morning.”
His remarks express worries that the market performance of XRP could be momentarily impacted by false information and unfavorable attitudes around the stablecoin.
In the meanwhile, it is believed that Ripple’s decision to launch the RLUSD stablecoin is a critical step toward realizing its goal of offering dependable and stable digital transactions.
However, the fear of possible FUD highlights the unpredictability and volatility that frequently accompanies significant advancements in the bitcoin field.
The most recent statement from Ripple on its RLUSD stablecoin has drawn a lot of interest.
RLUSD, which was unveiled at the XRP Ledger (XRPL) Community Summit, intends to sustain XRPL transactions by keeping a stable connection to the US dollar.
Significantly, this stablecoin is expected to improve the usefulness of Ethereum and the XRPL, offering a flexible instrument for both financial experts and blockchain enthusiasts.
Notably, Brad Garlinghouse stressed that the RLUSD would improve Ripple’s market position by providing greater utility in various blockchain ecosystems.
It is anticipated that this calculated action would draw a wide range of users, including professionals in the financial industry and blockchain aficionados.
Several influential figures in the cryptocurrency space have responded favorably to the announcement.
Several market observers have also emphasized XRP’s crucial function in the emerging stablecoin ecosystem.
Notably, as of this writing, XRP’s trading volume dropped by 5.10% to $1.25 billion, even though its price was up 1.14% at $0.4866.
Significantly, the cryptocurrency has recently performed poorly, as shown by a 7% decline in value during the previous week.
