News About XRP: Is XRP Still a Good Investment After Rising 500%?

Ripple’s native cryptocurrency, XRP, has achieved remarkable performance in the cryptocurrency market, surging nearly 500% from $0.50 to $2.60 in recent months. Despite this notable growth, XRP has been criticized in a video titled ‘Everything Wrong with XRP’, sparking debate within the cryptocurrency community. The Main Criticisms of XRP The author of this video has presented three main reasons why XRP may not be a surefire investment. Replace with Stablecoin: The author argues that the original role of XRP as a bridge currency for cross-border payments has been overshadowed by stablecoins, a type of currency that provides more stability. The recent launch of Ripple’s stablecoin, RLUSD, has added further momentum to this statement. Ripple’s IPO plan: A video suggests that Ripple’s IPO plan weakens the relationship of XRP, as the company’s stock performance could overshadow this cryptocurrency. Ripple’s large XRP holdings: Ripple currently holds over 38 billion XRP tokens and has sold them to fund operations. According to the author, this concentration poses a risk to the long-term value of XRP. Ripple CTO David Schwartz answers In response, Ripple’s Chief Technology Officer, David Schwartz, directly addressed X’s criticisms. Please provide the text to be translated. Schwartz denies the claim that stablecoins make XRP obsolete. He explains that the unique role of XRP as a bridge currency depends on its liquidity and the ability of holders to freely buy and sell tokens. This liquidity ensures that XRP remains a valuable asset for settlement. Furthermore, Schwartz notes that holding XRP can simplify transactions by reducing the number of necessary currency exchanges. “If you don’t know what currency you’ll need next, holding XRP makes sense,” he said. Schwartz also expressed skepticism about predictions regarding price fluctuations of XRP, emphasizing that XRP and Stellar (XLM) often follow similar market trends, driven by broader factors rather than specific developments of Ripple. Why XRP Still Has Potential Despite the criticism, Schwartz still supports the importance of XRP in the digital payment ecosystem. For individuals and businesses using multiple currencies, holding XRP can rationalize operations, making it an effective choice in the context of complex finances. While the debates continue, Ripple is moving towards approving an XRP ETF. The company has been working closely with financial institutions, and so far, four XRP ETF applications have been filed. These efforts indicate a strong possibility that the proposals could be approved before 2025. DYOR! #Write2Win #Write&Earn $XRP {spot}(XRPUSDT)