Wednesday, June 19, 2024
HomeCryptocurrencyRipple Executive: XRP and XLM Are Poised to Become the Pepsi and...

Ripple Executive: XRP and XLM Are Poised to Become the Pepsi and Coca-Cola of Central Bank Utility

In the recent Black Swan Capitalist episode, Francis Hunt, a seasoned trader and technical analyst, shared insights from a Ripple executive who sees potential for XRP and Stellar Lumens (XLM) to play roles akin to Pepsi and Coca-Cola in the upcoming financial revolution, especially in terms of central bank utility.

The unnamed Ripple executive stated that the basis for categorizing XRP and XLM this way stems from the expectation that they will perform the “same functions.” Both cryptocurrencies are expected to play a valuable role in the coming financial revolution.

Read Also: XRP, SHIB, XLM Required To Make $1M, $5M, $10M If XRP, SHIB, and XLM Hit Their All-time Highs

Both assets can offer comparable functions and advantages, which will become clearer as adoption among central banks increases. Hunt reported that some Middle Eastern players initially committed to one option, while others, usually more hesitant nation-states, indicated a preference for the alternative.

Remember that Jed McCaleb, a key creator of the XRP Ledger (XRPL), introduced the Stellar network in 2014. Before this, McCaleb held the position of Chief Technology Officer (CTO) at Ripple until 2013. His role is now filled by David Schwartz, who has become a prominent member of the XRP and crypto community and once shared his belief that XRP was the bigger token of the two.

As one of the original architects of the XRPL, McCaleb’s Stellar network shares similarities with XRP. McCaleb’s vision for Stellar emphasizes exclusivity, accessibility, and empowerment of individuals and businesses globally, focusing on enabling seamless cross-border payments.

XLM and XRP All-time Highs Linked?

Later in the podcast, Versan highlighted the comparable price trends between XRP and XLM and sought Hunt’s perspective on their movement similarity. XLM has consistently replicated the price fluctuations of XRP.

For instance, both cryptocurrencies hit their all-time high around the same time, with XRP reaching $3.84 and XLM reaching $1.05. Both tokens also experienced declines the following month, and there was comparable behavior in subsequent years.

Read Also: Ex-Banker Says XRP and XLM Will Disrupt World of Payments. Here’s why

XLM is currently trading at $0.1199, down 0.85% in 24 hours, and XRP is trading at $0.6199, down 0.92% in 24 hours. Both tokens are down 2.5% and 4.78% in the past week and 9.83% and 18.88% in the past month.

<

Both tokens have similar trajectories and share similar trading volume movements, with XLM up 13.45% in 24 hours and XRP up 22.95% in 24 hours. Both cryptocurrencies also have recent bullish predictions based on golden cross formations. The analyst who highlighted them set targets of $6.5 for XLM and $33 for XRP.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
RELATED ARTICLES

Latest News & Articles