Ripple’s CTO David Schwartz has highlighted the launch of RLUSD, a fully-backed US dollar stablecoin, as a significant enhancement to the XRP Ledger (XRPL) ecosystem. By leveraging XRP as a bridge currency, RLUSD aims to boost trading activity and position XRPL as a decentralized finance hub.Since its introduction, RLUSD has maintained a 1:1 peg to the US dollar, with a supply of 19.1 million tokens and a market cap of $4.6 million. Ripple’s strategy with both XRP and RLUSD is designed to address diverse use cases and drive adoption within the growing tokenized Real World Assets market.
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0 posts last weekUS Stock Market Plummets After Fed Rate Cut and Hawkish Outlook
US stocks plummeted, with the Dow dropping over 1,100 points, following the Federal Reserve’s rate cut and a more hawkish outlook on future easing. The Fed projected only two rate cuts in 2025, disappointing markets and causing bond yields to soar. Fed Chair Jerome Powell emphasized the need for further progress on inflation and labor market resilience before considering additional cuts.
read moreSEC Acknowledges Speculative Trading’s Role in XRP Utility and Liquidity
Anderson, a digital asset researcher, revealed that the SEC recognizes the critical role of speculative trading in driving XRP’s utility, as highlighted in documents from the Ripple vs. SEC lawsuit. Ripple’s CEO emphasized that increased market activity and liquidity from speculators are essential for the adoption of XRP in products like On-Demand Liquidity (ODL). Additionally, a partnership between SWIFT and R3 suggests XRP’s potential as a liquidity intermediary in traditional financial systems, enhancing its role in cross-border payments.
read moreStock Market and Misery Index as Predictors of Presidential Elections
Election polls show Vice President Kamala Harris with a slight edge over former President Donald Trump, but historical data suggests the stock market is a more reliable predictor of election outcomes. The S&P 500’s performance from August to October has accurately forecasted every presidential election since 1984, with rising stock prices indicating an incumbent victory. Additionally, the Misery Index, which measures economic distress, has also proven to be a strong indicator, with a decrease favoring the incumbent party.
read moreGlobal Markets: European Shares Rise After UK Labour Party Victory
European shares rose after the Labour Party’s victory in the UK, with the FTSE 100 climbing 0.3%. Germany’s DAX jumped 0.9% following the government’s agreement on a budget for 2025 and a stimulus package. In Asia, Japan’s Nikkei 225 hit a record high before falling back, while Hong Kong’s Hang Seng and Shanghai Composite index declined. The U.S. government is set to provide a comprehensive update on June’s job report, with expectations of a solid gain in employment.
read morePushd’s Presale Gains Support from XRP and Ethereum Investors
Crypto investors are showing interest in a new coin called Pushd, believing it has the potential for significant returns. Ripple may use a stablecoin for US ODL due to legal issues with XRP, while Standard Chartered doubts the approval of Ethereum spot ETFs in May. Pushd is positioning itself as a potential investment option in the e-commerce space, offering a presale opportunity with experts predicting a potential 1,000% increase by November 2024.
read moreRipple’s Potential Launch of Stablecoin for U.S. On-Demand Liquidity (ODL) Users
Renowned digital asset researcher Anderson claims that Ripple is set to launch a stablecoin tailored for U.S.-based On-Demand Liquidity (ODL) customers, amidst its legal battle with the SEC. This move is seen as a strategic effort by Ripple to maintain its position in the U.S. market while facing regulatory scrutiny. The stablecoin is speculated to support automated market maker (AMM) and institutional decentralized finance (DeFi) activities, as well as streamline ODL transactions within the United States.
read moreThe Risks of Early Retirement and Market Volatility for 401(k) Millionaires
The soaring stock market has created a surge in 401(k) millionaires, but experts caution against early retirement based on market performance due to increasing life expectancy and market volatility. They emphasize the need for retirees to conduct a “stress test” on their retirement plans, factoring in market corrections, life expectancy, inflation, asset drawdowns, and spending projections.
read moreThe Risks of Early Retirement Amid Surging 401(k) Balances
The soaring stock market has created a surge in 401(k) millionaires, with average account balances reaching a two-year high. However, experts caution against early retirement based on market performance, emphasizing the need to consider the potential risks of living longer, volatile market returns, and the impact of market downturns on retirement funds. It is advised to conduct a thorough “stress test” on retirement plans to ensure financial security in the long term.
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