Warning from Ripple Executive Regarding RLUSD and XRP Amount: Not a Wealth Opportunity - Koin Bulletin

Ripple manager warned investors about possible volatility.

David Schwartz, Ripple's Chief Technology Officer, made important statements about RippleUSD (RLUSD), the company's new stablecoin pegged to the dollar. Schwartz stated that there may be 'supply shortages' in the early days of RLUSD's release and warned investors not to panic buy.

Schwartz, in his post on social media platform X on December 15th, stated that RLUSD is expected to receive a large amount of demand after its release and that this could pose a challenge to the stablecoin's ability to maintain its fixed value at a 1:1 ratio with the dollar. However, he also mentioned that the value of RLUSD is artificially inflated due to some small offers in the pre-market.

In a post shared by a user, it was observed that RLUSD corresponded to approximately 511 XRP (equivalent to $1,244 at current prices) in a Ripple wallet. Schwartz said that he believed this price was not real and that someone just wanted the "honor" of being the first to buy RLUSD in the market.

Schwartz added "Price will return to $1 in a very short time. If not, something is seriously wrong" and emphasized that investors should not succumb to FOMO (fear of missing out). He used the phrase "This is not an opportunity to get rich".

The announcement of the official launch of RippleUSD was made by Ripple CEO Brad Garlinghouse on December 11. Garlinghouse announced that RLUSD has received final approval from the New York Department of Financial Services. Ripple's official account also reported that the stablecoin will be available in the market soon.

Following the launch of RLUSD, Ripple said it plans to use the stablecoin and XRP to serve its global customers in cross-border payment solutions. In June, Ripple President Monica Long stated that RLUSD was designed to be "complementary and supportive" to XRP.