Ripple is preparing to introduce a stablecoin on its XRP Ledger, and an expert predicts that the growing stablecoin market could have a significant impact on the XRP ecosystem, with a projected market cap of $2.8 trillion.
The expert suggests that XRP could experience a 20-fold surge by 2028, reaching $12 and surpassing the market value of Visa, JPMorgan Chase, and Tesla, with a market cap of $658 billion.
Ripple recently announced its plans to launch a stablecoin on the XRP Ledger, citing its regulatory certainty, strong financial position, and global network as key advantages. This stablecoin could be a game-changer for XRP’s growth, potentially propelling the token to $12, according to one analyst.
Stablecoins currently represent $154 billion in market cap, and reports anticipate this figure to reach $2.8 trillion within the next four years. Ripple’s stablecoin could play a significant role in this market, leveraging the extensive XRP ecosystem and Ripple’s established network. With connections to numerous banks worldwide, Ripple’s stablecoin could become the first choice for traditional finance.
If the stablecoin market cap indeed grows by 20 times by 2028, XRP’s value would likely experience a similar surge once it becomes a major player in the sector, suggests crypto researcher and KUWL Show host, Rob Cunningham.
This would drive the price of XRP from its current $0.59 to $12 in the next four years, resulting in a market cap of $658 billion. To put this into perspective, JPMorgan Chase and Visa, the largest American bank and the leading global payment network, respectively, have a combined worth of $568 billion.
Cunningham further emphasizes the potential of XRP by stating, “An XRP-facilitated U.S. StableCoin offers global architecture, proven operational excellence, and support from an exceptional network of associates and customers, unlike any other company in the world. Ripple is the dominant force in the global payments industry.”
However, it is important to consider that Cunningham’s projections may not fully materialize due to various factors. The $2.8 trillion figure represents the market cap of all stablecoins, not solely the upcoming XRPL stablecoin. Moreover, Ripple’s stablecoin has yet to launch, and its reception in the market remains uncertain. Established stablecoins like Tether and USDC are also likely to maintain their dominance as the market expands.
Nevertheless, Cunningham’s estimates highlight the immense potential of the stablecoin market and its influence on the growth of crypto ecosystems. Currently, USDT and USDC account for 90% of the stablecoin market, issued on multiple blockchains such as TRON, Ethereum, and BSC.
The XRPL has proven its ability to compete with these leading blockchain networks, making it equally effective for hosting a stablecoin.
Cunningham concludes by shedding light on the motivations behind the efforts of global banking monopolists and their media allies to disrupt, delay, acquire, or steal innovative and disruptive technologies that could challenge their control over the financial system.
