800 XRP Sees Intense Bidding Ahead of Ripple’s RLUSD Stablecoin Release.

Ripple’s highly anticipated RLUSD stablecoin has sparked significant onchain interest, with bids for the token reaching up to 836 XRP ($2,068) ahead of its official launch on Tuesday. This surge in demand indicates a frenzy among early adopters eager to be among the first to acquire the new asset.

As of Tuesday morning in Asia, bids for RLUSD ranged from 500 XRP ($1,237) to 836 XRP ($2,068), with XRP trading at just under $2.50. These high offers suggest that speculators and collectors are willing to pay a premium for the initial release, despite RLUSD being pegged to a value of $1.

Ripple’s CTO, David Schwartz, commented on the unusual pricing, revealing that some buyers were willing to pay exorbitant prices for just a fraction of RLUSD. “There actually is someone willing to pay $1,200 for a tiny fraction of one RLUSD,” Schwartz wrote. “Maybe someone wants the ‘honor’ of buying the first bit of RLUSD on the DEX.”

Schwartz also reassured the community that, while initial price discrepancies might occur due to limited liquidity, each RLUSD token will always be redeemable for $1. “The price will return to very close to $1 as soon as supply stabilizes. If it doesn’t, something is very seriously wrong,” he added.

This behavior is typical for new crypto assets, where speculators often pay inflated prices to acquire the first tokens or NFTs, betting on the novelty factor. However, as liquidity increases after RLUSD goes live, the token is expected to maintain its stable $1 peg.

RLUSD is set to launch on the XRP Ledger (XRP) on Tuesday, with listings expected on multiple platforms, including Uphold, MoonPay, Archax, and CoinMENA. The release is expected to draw significant attention from both retail and institutional investors as the stablecoin begins trading on the market.