How Does Ripple (XRP) Fare Against The Rising Tide Of Stablecoins?

Stablecoins are pegged to real-world assets like the US dollar and gold. They can exist in an environment where their values aren’t driven by speculation and each coin can be traded for a price that will remain consistent into the future. Today, JP Morgan Chase announced it would be releasing its own cryptocurrency in the form of Utility Settlement Project, spearheaded by UBS, Barclays and Barclays. Stablecoin market caps have rallied towards more than doubling in value, from less than $6 billion in January 2020 to over $16 billion by the end of August.