From Coinpedia · By Anjali Belgaumkar
Ripple CEO Brad Garlinghouse has pushed back against claims that the company is abandoning XRP in favour of its RLUSD stablecoin. Garlinghouse said Ripple remains completely committed to the XRP ecosystem and stressed that XRP is required to use the XRP Ledger. That point matters because RLUSD runs on the ledger, where every account needs an XRP reserve and every transaction fee is paid in XRP. About half of all RLUSD is now issued on the XRP Ledger. The comments come as XRP faces a key test on the chart. The token failed to break above $1.55 at the top of its trading channel and has now slid all the way back to the channel’s lower edge near $0.99, according to crypto trader Ali Martinez. Holding that level is critical. A break below could open the way to a deeper drop toward $0.80.
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TagsCrypto news Ripple (XRP)