Will This new Catalyst Send XRP Soaring Past the $1 Mark?
Even ardent supporters of XRP (CRYPTO: XRP) must be getting tired of waiting for its price to soar. XRP still trades around the $0.62 mark, almost exactly the same as on Jan. 1. Meanwhile, Bitcoin (CRYPTO: BTC) has blasted off into the stratosphere, reaching new all-time highs this year.
But XRP may have one more trick up its sleeve. Ripple, the company behind the XRP crypto token, recently announced plans to launch a new stablecoin for the XRP ecosystem. If successful, this new product launch could revive growth prospects for XRP and potentially send the value of the crypto token past the $1 mark.
A stablecoin is a special type of cryptocurrency that is pegged 1-to-1 to a specific asset, typically the U.S. dollar. Unlike traditional cryptocurrencies, which can gyrate wildly in value, stablecoins are supposed to be, well, "stable." Regardless of what is going on in the market, they are always supposed to be worth $1. If they ever lose their peg, it means something has gone seriously wrong.
Source Fool.com
