Ripple Stablecoin RLUSD Hits Bithumb With Price Swings

The Bithumb exchange officially added support for Ripple USD today. This move comes just one day after the stablecoin launched on Upbit, which is the largest crypto exchange in the region. While the coin is designed to hold a value of one dollar, traders are currently seeing it change hands for slightly less than that amount.

The price drop appears to be a result of thin order books and low initial liquidity on the platform. When there are fewer buyers and sellers active during a new launch, prices often fluctuate more than they would on larger or more established markets. Investors looking to trade the asset should be aware that these price gaps can lead to unexpected results.

This listing marks an important step for Ripple as it pushes its stablecoin into the Asian market. Traders are now watching to see if the price stabilizes as more liquidity enters the exchange. If the gap closes, it may suggest that the market is finally comfortable with the new asset.