The post Ripple’s RLUSD Launch Delayed as XRP Surges While Bitcoin Faces Volatility After $100,000 Milestone appeared on BitcoinEthereumNews.com.

Ripple’s RLUSD stablecoin launch encounters regulatory challenges with NYDFS, yet XRP sees a brief price surge amid speculation. Bitcoin briefly crossed $100,000 but dropped back to $97,000, impacted by significant transactions from Mt. Gox and options market volatility. Charles Hoskinson of Cardano advocates for unity in the crypto sphere, warning of increased legal scrutiny and potential banking sector hostility. This week in crypto, we explore Ripple’s RLUSD stablecoin delays, Bitcoin’s fluctuation around $100,000, and a call for unity from Cardano’s founder. Ripple’s RLUSD Stablecoin Delays Amid Regulatory Scrutiny Recent reports indicate that Ripple’s RLUSD stablecoin is facing delays due to regulatory scrutiny from the New York Department of Financial Services (NYDFS). This announcement highlights the ongoing tension between regulatory bodies and blockchain entities, particularly significant for Ripple given its tumultuous history with the SEC. The outcome of these discussions could profoundly impact Ripple’s future trajectory. David Schwartz, Ripple’s CTO, spoke at a conference in Prague about the challenges the company faces in attempting to finalize the launch before year-end. With the holidays approaching, he noted: “The annoying part for us is we’re getting close to the holidays, and we have partners that want to hit the ground running. Once you start running into Christmas and New Year’s, people are gone. There’s a lot of moving parts involved, and the big one is the [NYDFS]. They are going over all of our processes, compliance, and all of those things,” Schwartz detailed. Despite these hurdles, XRP experienced a notable price spike, particularly benefiting the adjacent meme coin market, with tokens like ARMY and RIPPY witnessing exponential gains. However, this bullish momentum was short-lived as bearish signals emerged, indicating that XRP is encountering significant resistance. Bitcoin’s Rollercoaster Ride Past the $100,000 Mark On December 5, Bitcoin reached the touted $100,000 benchmark, sending ripples…

---

Filed under: News - @ December 7, 2024 3:18 am