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ID: a8zwlgLB/biz/60617641#60619482
7/13/2025, 4:30:28 PM
>>60618444
"Here’s what happened to XRPL in the period since 2023. The ledger earned $1.15 million in fees over the course of 2024, an increase of just $567,000. At the same time, its market cap grew by over $80 billion from $33.32 billion at the start of 2024, giving it a price-to-sales ratio of 103,826."
"Non-fungible tokens (NFTs) are another area where the XRPL is lagging. According to data from Messari, the blockchain averaged about 550 daily NFT traders in 2024. Even in a market such as this, where NFTs are struggling, Ethereum typically has five thousand daily traders. "
"It also appears that the XRPL has struggled to bring on native smart contracts, something that is table stakes for the blockchain now that its tunnel-vision focus on payments is being expanded. But as of June 30, Ripple Labs launched an EVM-compatible sidechain with Axelar that could supplement this gap. XRP will serve as the gas token and native asset for this new blockchain, perhaps unlocking another source of demand for the token aside from paying for payments on the XRPL. But the company has a lot of work to do to use this avenue to create real, non-speculative user demand for XRP."
Aside from the ascendance of stablecoins in general, Ripple may have had another reason to launch RLUSD: the scarlet letter attached to XRP as a result of the SEC enforcement action against Ripple Labs. “Ripple may have felt like they had no choice but to issue a stablecoin in order to convince banks and other financial institutions to work with them,” said Owen Lau, executive director at Oppenheimer & Co in an April 2024 interview with Forbes. “These firms may not have been comfortable holding and using XRP because of the volatility and regulatory overhang [stemming from an ongoing lawsuit with the SEC].”
things sure are looking good for XRP
"Here’s what happened to XRPL in the period since 2023. The ledger earned $1.15 million in fees over the course of 2024, an increase of just $567,000. At the same time, its market cap grew by over $80 billion from $33.32 billion at the start of 2024, giving it a price-to-sales ratio of 103,826."
"Non-fungible tokens (NFTs) are another area where the XRPL is lagging. According to data from Messari, the blockchain averaged about 550 daily NFT traders in 2024. Even in a market such as this, where NFTs are struggling, Ethereum typically has five thousand daily traders. "
"It also appears that the XRPL has struggled to bring on native smart contracts, something that is table stakes for the blockchain now that its tunnel-vision focus on payments is being expanded. But as of June 30, Ripple Labs launched an EVM-compatible sidechain with Axelar that could supplement this gap. XRP will serve as the gas token and native asset for this new blockchain, perhaps unlocking another source of demand for the token aside from paying for payments on the XRPL. But the company has a lot of work to do to use this avenue to create real, non-speculative user demand for XRP."
Aside from the ascendance of stablecoins in general, Ripple may have had another reason to launch RLUSD: the scarlet letter attached to XRP as a result of the SEC enforcement action against Ripple Labs. “Ripple may have felt like they had no choice but to issue a stablecoin in order to convince banks and other financial institutions to work with them,” said Owen Lau, executive director at Oppenheimer & Co in an April 2024 interview with Forbes. “These firms may not have been comfortable holding and using XRP because of the volatility and regulatory overhang [stemming from an ongoing lawsuit with the SEC].”
things sure are looking good for XRP
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