Amidst increasing speculation about the potential for Ripple’s XRP to evolve into a stablecoin, market analysts and industry leaders are weighing in on the possibility. Versan Aljarrah, Founder of Black Swan Capitalist, recently made a bold claim that XRP could play a crucial role in the development of a gold-backed stablecoin as institutions like the World Bank, IMF, and World Gold Council push for central banks to tokenize gold reserves.
Aljarrah’s assertion is supported by extensive research conducted by Black Swan Capitalist’s financial analyst Vandell and Miles Franklin CEO Andy Schectman. They believe that XRP is the “key” to a gold-backed stablecoin, indicating a potential evolution for XRP that differs from traditional USD-pegged stablecoins.
However, former Ripple director Sean McBride provided further insight, suggesting that XRP’s evolution into a stablecoin may not be as straightforward as some speculate. He proposed that XRP could be classified as a “payments stablecoin,” emphasizing the need for it to be priced appropriately for large-scale cross-border transactions.
Despite the World Bank’s recognition of XRP as a stablecoin and Ripple’s XRPL’s plans to launch a stablecoin in the past, there is still skepticism surrounding the potential transformation of XRP into a stablecoin. Some within the XRP community and crypto enthusiasts question the viability of these speculations, especially in light of conflicting stances from industry authorities.
As the industry continues to evolve, the future of XRP and its potential as a stablecoin remains an area of great interest and debate within the crypto community.
