Ripple CTO: Expect shortages in the early stages of RLUSD issuance, but don’t buy it out of FOMO

Ripple CTO David Schwartz said Ripple's dollar-pegged stablecoin may be "short in supply" in the early days of its launch, but warned investors not to "FOMO." He expects RippleUSD (RLUSD) to see big moves immediately after launch, with several large orders despite the token being designed to maintain a 1:1 peg with the dollar. He noted that a few small initial pre-listing bids for the currently unissued RLUSD artificially inflated its value before launch. A post on X shows that 1 RLUSD is worth about 511 XRP ($1,244 at current prices) in a Ripple wallet called Xaman. "Someone is willing to pay $1,200/RLUSD for a small portion of RLUSD," Schwartz said, adding that the bid looked like someone wanted the "honor" of buying the first RLUSD to enter the market. He added: "But rest assured, once the supply stabilizes, the price will return to very close to $1. If not, there is a big problem. Please don't buy stablecoins because of FOMO, this is not an opportunity to get rich." (Cointelegraph) Previously, Ripple CEO Brad Garlinghouse announced on the X platform that the stablecoin RLUSD has been approved by the New York Department of Financial Services (NYDFS), and the list of exchanges and partners will be online soon.