The level of scams around the $XRP coin is rapidly increasing as developments around Ripple and the $XRP coin are gaining enthusiasm.
Ripple, a San Francisco-based blockchain company, is currently preparing to launch its $RLUSD stablecoin. All the development work on this stablecoin was done by the Ripple team and has been awaiting regulatory approval from the New York financial regulator.
On December 11, 2024, Ripple CEO Brad Garlinghouse confirmed that the company had final approval from New York regulators for $RLUSD.
Garlinghouse confirmed that the Ripple team will soon announce the launch of this stablecoin with its partner exchanges.
The Ripple CEO said that the announcement will come from the Ripple team first, so people should ignore any kind of related announcement from a third-party platform or person.
The Ripple team warned people to stay away from any type of scam or misleading information from third parties.
Interestingly, a fraudulent account X (formerly Twitter) responded to the tweet and asked people to join a giveaway for fake $XRP coins. That suspicious account successfully attracted attention by using information related to the $XRP lawsuit battle against the US securities regulator SEC.
$XRP Price Action
The current trading price of $XRP, a Ripple-backed cryptocurrency, is $2.36. Following the latest news related to $RLUSD, the trading price of the $XRP coin began to show a significant increase. The current trading price level is 6.3% higher in the last 24 hours.
It will be interesting to see the level of pumping of this cryptocurrency because almost all former cryptocurrency investors know very well that $RLUSD will remain independent of the $XRP economy.
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