Ripple (XRP) Price Prediction, Dec. 17: XRP Eyes $4.75 Breakout as Ripple’s Stablecoin RLUSD Goes Live This Tuesday

Coinfomania report confirms that Ripple has officially announced the launch of its much-talked-about RLUSD stablecoin, armed to go live globally today, Tuesday, Dec. 17. Per a Monday press release, the USD-backed stablecoin will initially be supported on platforms such as MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEx. This announcement has generated strong bullish sentiment around Ripple’s native token, XRP, with analysts suggesting it could surge to a new all-time high of $4.75 if key resistance levels are cleared.

“The Release of RLUSD Marks a New Chapter,” Says Ripple President Monica Long

The launch of RLUSD follows regulatory approval from the New York Department of Financial Services (NYDFS), granted on December 10. Ripple had initially hinted at an earlier release on December 4, lifting expectations within the crypto community. In a statement, Ripple emphasized that RLUSD is an “enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core.”

Ripple’s President, Monica Long, rehashed the company’s vision in a post on X (formerly Twitter), highlighting the stablecoin’s design to maintain a 1:1 peg with the US dollar. Reserves backing RLUSD will include US dollar deposits, short-term Treasury bonds, and other highly liquid assets. To ensure transparency, Ripple confirmed that an independent auditing firm will publish monthly attestations of RLUSD’s reserves.

RLUSD will not only serve retail investors but will also drive Ripple’s broader ambitions in cross-border payments. The company plans to leverage RLUSD for enterprise customers beginning early next year. On a technical level, RLUSD will be available on both the XRP Ledger and Ethereum Mainnet, enabling on-chain users to interact with DeFi protocols seamlessly.

Adding to the current platforms, Ripple aims to stretch RLUSD’s presence to other major exchanges, including Bullish, Bitstamp, and Mercado Bitcoin, within the next few weeks.

XRP’s Technical Outlook: Bullish Momentum Builds

XRP, Ripple’s native token, has validated a bullish flag pattern, ticking strong upward momentum. Following the breakout from the flag’s descending trendline over the weekend, XRP tested the key resistance at $2.58 on Monday. Analysts highlight the 23.6% Fibonacci Retracement level as a pivotal bounce point, allowing the token to maintain its rally.

Should XRP sustain a high-volume move above the resistance levels at $2.58 and $2.92, technical indicators point to a potential surge toward $4.75—a new all-time high.

Market data from Coinglass shows XRP recorded $18.62 million in liquidations over the past 24 hours. Of this, $10.14 million came from liquidated long positions, while $8.48 million was attributed to shorts. Despite the liquidations, XRP has managed a 1% gain, further underscoring the bullish sentiment.

Key indicators also align with this outlook. Both the Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are above their neutral thresholds, reinforcing dominant bullish momentum.

Albeit, analysts warn that a daily candlestick close below the support level at $1.96 would nullify the present bullish stamina.

With RLUSD’s launch marking a landmark milestone for Ripple, its impact on XRP’s price trajectory remains a focal point. As the stablecoin integrates with leading platforms and expands its utility, bullish momentum for XRP could continue building. 

FAQs

1. What is Ripple’s RLUSD stablecoin, and when will it launch?

Ripple’s RLUSD is a USD-backed stablecoin that maintains a 1:1 peg with the US dollar. It is set to launch globally on Tuesday across platforms like MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEx.

2. How high can XRP go after the RLUSD launch?

If XRP clears the key resistance levels at $2.58 and $2.92 with high volume, analysts believe it could rally to a new all-time high of $4.75.

3. What will Ripple use RLUSD for after its launch?

Ripple plans to use RLUSD for cross-border payments starting early next year and make it available on the XRP Ledger and Ethereum Mainnet for DeFi use.