Ripple Chief Technology Officer David Schwartz says investors shouldn’t hope for profits on stablecoins as his company prepares to launch its new dollar-pegged crypto asset.

In a new post on the social media platform

“There is actually someone willing to pay $1,200/RLUSD for a tiny fraction of an RLUSD… Maybe someone would want the ‘honor’ of buying the first piece of RLUSD on the DEX (decentralized exchange).”

Schwartz says the price of RLUSD should rise back near $1 as supply stabilizes.

“If you want to spend a lot of money to get a little bit of RLUSD before someone else does, you can do that. “But please don’t expect the price to stay above $1 once the situation stabilizes, which I think will happen very quickly.”

The XRP co-creator says the point of stablecoins is to have a stable price, so investors should not see these tokens as a way to make profits.

“Short-term price changes due to supply or demand shortages are certainly possible, especially around launch, but they should not last for very long as arbitrageurs quickly dominate the market.” Please don’t FOMO into a stablecoin! This is not an opportunity to get rich.”

Ripple is expected to launch RLUSD on Tuesday after receiving final approval from the New York Department of Financial Services (NYDFS) last week.

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