Archax CEO predicts XRPL trading volume could hit $30-50 trillion by 2025, potentially boosting XRP’s value to $900, sparking excitement in the crypto community.

Ripple’s SVP hints at the benefits of stablecoin on XRPL, but questions arise about its impact on XRP’s future and whether Ripple-held XRP would back the stablecoin.

Graham Rodford, the CEO and co-founder of Archax, a digital securities exchange regulated by the FCA, dropped a bombshell that sent shockwaves through the crypto community, as previously reported by Crypto News Flash. With a grin that hinted at the magnitude of his revelation, Rodford painted a vivid picture of XRPL’s future, envisioning its trading volume skyrocketing to a jaw-dropping $30-50 trillion by 2025.

Rodford’s prediction carries the potential for an exhilarating ride in XRP’s value, teasing the possibility of it surging to the stratospheric $900 mark. That’s an 1800-fold increase from its current perch. And here’s the twist: despite XRP’s current trading volume resting at a mere $933 million, Rodford’s bold vision challenges the status quo, daring us to imagine a future where XRP reigns supreme, commanding trillions in daily transactions.

Ripple’s Stablecoin Sparks Debate

In the same breath, surrounding the XRP ecosystem, Eric van Miltenburg, Ripple’s SVP for Strategic Initiatives, recently hinted at the potential benefits the stablecoin could bring to the XRP Ledger (XRPL). While some anticipate positive impacts, questions loom regarding its implications on XRP’s future. Drawing parallels to stablecoins integrated into other blockchains, Miltenburg suggested that the stablecoin’s launch on XRPL could increase the total value locked (TVL) on the ledger, thereby fostering trust in the blockchain. However, concerns lingered within the community regarding the stablecoin’s relationship with XRP and its potential implications.

A rare question from me @JoelKatz
Can you help me to understand?
Eric Van Miltenburg, (Ripple SVP) in the Digital Frontiers article interview, explained for some of the payment corridors (s) within its network, Ripple has been using stablecoins.
ok, but…
He also said the… pic.twitter.com/BrgZkyc7Xd

— Crypto Eri Carpe Diem (@sentosumosaba) April 25, 2024

Specifically, Eri questioned whether XRP held by Ripple would be considered part of the “cash equivalent” backing the stablecoin. In response, Schwartz shed light on the absence of a native mechanism to “lock up” assets on XRPL. He clarified that Miltenburg’s reference to stablecoins impacting other blockchains likely pertained to their overall utility rather than direct TVL comparisons.

David Schwartz elaborated on potential functions for stablecoins on XRPL, including providing stability amidst crypto volatility and serving as assets for automated market makers (AMMs). Additionally, he highlighted the potential for stablecoins to enhance the usability and functionality of XRPL, providing a broader perspective on their role within the ecosystem. Despite these insights, the XRP community awaits further developments and clarity in digital assets.

XRP Shows Signs of Potential Recovery Amidst Bearish Market

XRP has been navigating through a bearish phase, marked by a recent drop in value. Currently trading at $0.5149, XRP has experienced a decline of 2.12% over the past 24 hours. Despite hitting a low of $0.5104 after reaching a high of $0.5294, there are indications of a potential turnaround in its fortunes. Additionally, XRP’s market cap is currently at $33.5 billion, down roughly 2% in the same period. 

Analysts suggest that XRP may have reached its floor price, hinting at possible bullish momentum in the near future. Although certain challenges persist, such as Forbes noting its downward trajectory, optimism surrounds cryptocurrency. Utility is cited as a crucial factor that could reshape market sentiment, with the increasing involvement of XRP whales as a positive indicator. 

 

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Filed under: Bitcoin - @ April 29, 2024 8:20 am