Ripple's XRP has experienced a notable decline today, driven by investor concerns surrounding the launch of Ripple's new USD-pegged stablecoin, RLUSD. Ripple's CTO, David Schwartz, has cautioned investors about potential volatility and supply constraints as RLUSD enters the market. Schwartz's warning comes amid reports of pre-launch offers that have inflated the perceived value of RLUSD, with some bids reaching as high as $1,200 for a fraction of the stablecoin. This has led to apprehension among XRP investors, contributing to today's price drop.
Adding to the uncertainty, the U.K.'s Financial Conduct Authority (FCA) has announced plans to prohibit public offers of crypto, which could impact Ripple's operations in the region. The FCA's discussion paper outlines a new crypto regime set to be implemented in 2026, aiming to enhance consumer protection and reduce fraud. This regulatory development has further fueled market unease, as investors assess the potential implications for Ripple and its XRP token.
XRP's price has fallen by 4.13% today, reaching a low of $2.346010.