XRP may not have significantly outperformed recently, but a well-known financial analyst from Wall Street believes that this crypto asset is poised for significant growth, highlighting its potential. Jones’ analysis essentially addresses concerns about XRP’s underperformance. In particular, while seeking to provide assurance to XRP holders, the future growth potential of the asset emphasizes.
At the center of this analysis are Ripple’s CTO David Schwartz’s statements regarding the potential of XRP. Schwartz suggested that countries could adopt digital assets such as XRP as a global reserve currency, and argued that this could increase the growth potential of XRP. These statements have sparked a significant debate about the future role of XRP and shed a positive light on the future of the asset.
Ripple’s CTO proposed the idea during an X-Space call last year. During the forum, when faced with a question about the possibility of two global reserve currencies co-existing, Schwartz confirmed the feasibility of this scenario and expressed that many countries are now tired of the reliability of the dollar as the sole reserve currency. Schwartz stated that many countries are now open to alternatives.
If discussion of a new world reserve currency were initiated, he said, countries could turn to trustless systems rather than adopting another currency controlled by their political rivals. Ripple CTO suggested that cryptocurrencies that provide neutrality and decentralization could be successful in such a scenario, especially XRP.
Reaction from the XRP Community
After Linda Jones re-evaluated Schwartz’s statement, members of the crypto community expressed concerns as to why countries would specifically favor XRP. They said that cryptocurrencies are relatively simple to create and that nations can develop a cryptocurrency that better suits their needs. Moreover, there were concerns about why countries would choose a volatile asset like XRP when they could choose a stablecoin.
On the other hand, some crypto enthusiasts have also opposed the idea, pointing out that stablecoins need to be backed by traditional currencies, which is exactly what they are trying to avoid.
You can follow the current price movement here.
Source : the crypto basic