The debate on XRP’s future has been renewed within the cryptocurrency community. This follows a statement from Versan Aljarrah, co-founder of Black Swan Capitalist and a recognized financial strategist. Aljarrah boldly claimed that XRP’s price could see limitless growth, writing, “There are no limitations on its price.”
#XRP was designed for infinite #scalability, meaning there are no limitations on its price. As it becomes universally adopted, accepted, and extensively used, it will eventually absorb all #money in circulation, improving its #liquidity and driving its #price even higher pic.twitter.com/HE5cMkrGEj
— Black Swan Capitalist (@VersanAljarrah) April 16, 2024
His reasoning hinges on Ripple’s recent foray into the stablecoin market. The company intends to launch a USD-backed stablecoin on the XRP Ledger (XRPL) and Ethereum blockchains, aiming to compete with established players like Circle with USDC, Tether with USDT, and PayPal with PYUSD.
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This move by Ripple is significant due to the projected exponential growth of the stablecoin market. According to industry estimates, the current market capitalization of $150 billion could surge to a staggering $2.8 trillion by 2028.
Ripple’s decision to leverage the XRPL for its stablecoin issuance has increased optimism about XRP’s potential worth, considering the scale of the market. Aljarrah emphasizes XRP’s design for “infinite scalability,” suggesting this translates to limitless possibilities for its price appreciation.
Dissenting Opinions on XRP’s Value
Although some analysts have also predicted an XRP surge because of the stablecoin, Aljarrah’s optimism was met with some disagreement from prominent voices in the XRP community.
Prominent YouTuber Moon Lambo, a vocal XRP supporter, expressed reservations regarding Aljarrah’s claim that XRP could absorb all circulating money. Lambo raised concerns about the feasibility of such a scenario.
Similarly, other XRP community members voiced their dissent. Some believe Aljarrah’s statement lacks grounding in reality and might be a mere publicity stunt.
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Is XRP Truly Limitless?
This is not the first time XRP’s price potential has been presented as limitless. Steven Nerayoff, a legal professional and prominent voice in the crypto community, previously echoed similar sentiments when questioned about XRP reaching a $100 price point.
Nerayoff drew parallels between the potential growth trajectory of XRP and the historical appreciation of the U.S. dollar, suggesting XRP’s value could conceivably rise indefinitely, driven by Ripple’s ongoing endeavors. In Nerayoff’s words, “XRP has no ceiling.”
Read Also: Making XRP a Reserve Currency: Experts Explain Role of 40 Billion XRP in Escrow
While Aljarrah and Nerayoff paint an optimistic picture grounded in factors like the expanding stablecoin market and Ripple’s strategic initiatives, the XRP community remains divided.
However, widespread adoption and extensive real-world use cases are paramount factors for any cryptocurrency to achieve significant and sustained price appreciation. XRP will also need to grow in these areas to meet the high bullish expectations from the community.
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