#MarketSentimentToday

XRP should benefit from Ripple stablecoin gas usage: Cryptocurrency analyst

CEO Brad Garlinghouse says Ripple stablecoin will emerge in weeks.

Analyst: RLUSD stablecoin gas transactions could boost XRP.

On Tuesday, XRP drops to $ 0.53.

Ripple USD, its stablecoin, was recently launched by Ripple (XRP). CEO Brad Garlinghouse indicated that the asset's debut is weeks away in an interview at Korea Blockchain Week in early September.

XRP is trading at $ 0.5387, as traders await the introduction of RLUSD.

The introduction of the XRP gas token and RLUSD could boost ledger activity and help the altcoin.

Analysts predict that demand for cryptocurrencies will boost XRP.

While on-demand liquidity from institutional investors rarely affects the price, demand for gas tokens could boost it.

In a Sept. 4 fireside chat at Korea Blockchain Week, Brad Garlinghouse announced that the Ripple stablecoin would debut in weeks.

In a recent tweet, CTO David Schwartz said that RLUSD would be accessible only to institutions and compared it to Circle’s stablecoin USDC and Tether’s USDT.

Ripple is falling. The cryptocurrency may drop below $0.5026, its Sept. 6 low. XRP is down 6.7% from its current price. The MACD momentum indicator confirms the negative view.

The red bars of the MACD histogram below the neutral line indicate XRP price weakness.

A daily candle close above $0.6000, XRP’s psychological threshold, could refute the bearish argument. XRP can target the upper barrier of Fair Value Gap (FVG) at $0.6217, its low from July 31.