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- Ripple is set to issue a stablecoin on its XRP Ledger, and according to one expert, the projected growth in the stablecoin market cap to $2.8 trillion could flow into the XRP ecosystem.
- The expert says that XRP will surge by 20x by 2028 to hit $12, pushing its market cap to $658 billion, making it more valuable than Visa, JPMorgan Chase and Tesla.
Ripple recently announced that it intends to launch a stablecoin on the XRP Ledger. As Crypto News Flash reported, the company believes its regulatory certainty, strong balance sheet and global network make it the ideal issuer. This stablecoin could be the most defining factor in the growth of XRP and could push the token 20x to hit $12, one analyst says.
Stablecoins currently account for $154 billion in market cap, and according to some reports, they are set to hit $2.8 trillion over the next four years. Ripple’s stablecoin could be a major player in this sector, building on the vast XRP ecosystem and the network that Ripple has built over the years. With its connections stretching to several banks globally, Ripple’s stablecoin could be the first used in traditional finance.
If the stablecoin market cap is set to soar 20x by 2028, it would imply XRP would surge by a similar number once it becomes a significant player in the sector, infers Rob Cunningham, a crypto researcher and the host of KUWL Show.
This would push the price of XRP from its current $0.59 to $12 in the next four years and the market cap to $658 billion. For context, JPMorgan Chase and Visa, America’s largest bank and the most extensive payment network globally, respectively, are worth $568 billion.
Cunningham added:
An XRP-facilitated U.S. StableCoin offers global architecture, proven operational excellence, and support by the greatest combination of Associates and Customers, unlike any other company on earth. Ripple is the 800 lb. Guerrilla in the Global Payments space.
Ripple Stablecoin to Disrupt USDT/USDC Monopoly
Cunningham’s calculation may not translate into the real world as other factors will come into play. For instance, the $2.8 trillion figure refers to the market cap of all stablecoins, not just the upcoming XRPL one. Additionally, Ripple’s stablecoin has not yet launched, and there’s no telling how the market will receive it. Then, there are the other more established stablecoins like Tether and USDC, which are likely to dominate the market even as it expands.
However, Cunningham’s estimates reveal how vast the stablecoin market will be and how influential it will be to the growth of any crypto ecosystem. Currently, USDT and USDC account for 90% of the stablecoin market. The two are issued on multiple blockchains, including TRON, Ethereum and BSC.
XRPL has proven it can compete with these top blockchain networks, and a stablecoin on XRPL would be as effective as on any other chain.
Cunningham added:
Hopefully, you can begin to understand WHY global banking monopolists and their paid media assassins are so very desperate to disrupt, delay, acquire and/or steal the most innovative & disruptive technology capable of scrambling their world control system.
