Ripple is going to Launch USD-Backed Stablecoin

Hello Friends,

Good day to you. Hope the day is going well for you and it's going well for me also.

Ripple is a very well known name in Crypto market. Now their coin name is xrp that earlier it was called ripple but that time I was not in this market but I did read about it in social media. Xrp is still on top of the market whereas it has gone through tough time because of the lawsuit filed by security and Exchange Commission in US. Ripple is an organisation that is managing xrp coin and they are trying to build an ecosystem on this network.

Ripple is going to launch a stable coin which will be backed by U S Dollar. This is a big news because now we are going to have another stable coin in the market soon. We have multiple stable coins in the market and most of them are backed by US dollar and this one is also going to follow the same. Now the question is why this company is entering in stable point segment whereas they already have a coin called XRP in the market.

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I read more about it and figured out that the demand for stable coin is increasing gradually. There are many platforms offering better returns for stable points and even traders are trying to hold some part of their crypto in stable coins. When market doesn't look good that is the time when people in this market try to convert their crypto holding into stable coin. Over the years the demand for stable coins has gone up and it is expected that in this bull run cycle or we can say in the coming years it will increase further.

Currently Tether is the leading company that is managing the stable coin called USDT. This is the leading stable coin in the market and there are many others but all of them are after usdt in the entire crypto market. Probably this segment can be more profitable for the company's managing stable coins and possibly because of this region triple as a company is trying to enter in the segment for stable coins. Based on the available data, the current market cap for stable coin is 150 billion dollars and because the demand is going up so this is expected to grow 2.8 trillion by year 2028. This is a significant growth which is expected to happen in next four or five years and this is why Ripple is trying to bet in the game and maybe we can see many more companies coming into this segment.

Conclusion

Overall I believe that it's good to have more stable coins so that there is no monopoly in this market and users and holders are spread across. It is also important that the stable coin that exists in the market should not lose its value because if it happens it can be a great situation in terms of loss for the holders. There have been a situation with UST coin in the past and this situation should not be repeated in future so that investor do not lose any of their hard earned money.

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