Prominent XRP community figure Dig Perspectives is more excited to see XRP as a world reserve currency over a potential $25 price target surge.
Several analysts have projected ambitious price targets for XRP, citing favorable price movements. Amid these projections, prominent XRP community figure Dig Perspectives is more excited to see XRP as a world reserve currency.
In a recent post on X, Dig Perspectives set sights beyond the long-term price targets of $10 to $25 for XRP. The influencer disclosed this while responding to Edward Farina, Head of Social Adoption at XRP Healthcare.
While he confirmed that he could revel in profit-taking trades if XRP rallies to $10 or $25, Dig Perspectives emphasized that he would be more elated to see XRP assume the position of world reserve currency.
I may take profits at $10-$25 and so on,but this is what I`m really excited about. The real early vision of #Ripple and the use of #XRP. Hate us for it if you want to,but it isn`t going to change the course of #XRP history.😎 https://t.co/YfvGIofGU9
— Digital PerspectivesPermaBull🪝 (@DigPerspectives) August 20, 2023
XRP as World Reserve Currency?
This vision of XRP as a world reserve currency, a role traditionally held by established fiat currencies, challenges the conventional discourse surrounding cryptocurrencies.
Dig Perspectives’ remarks show that he is placing paramount importance on XRP’s broader utility and significance.
Farina’s original post, featuring a screenshot of a Google search result projecting XRP as a future world reserve currency, set the stage for the optimistic outlook. However, this projection is not recent and doesn’t originate from Google itself.
According to @Google:
$XRP WORLD RESERVE CURRENCY
“XRP is perfectly positioned to serve as a world reserve currency. It can be held in significant quantities to provide liquidity for foreign exchange reserves, and international transactions throughout a Global 🌐 Economy.” pic.twitter.com/m4PKRUaZBG
— EDO FARINA 🅧 XRP (@edward_farina) August 19, 2023
The idea that XRP could evolve into a world reserve currency was initially put forth by Mark R. Philips, a director at the National Defense University, in a 2019 LinkedIn post.
Philips’ argument hinged on the escalating global debt crisis, which he posited could prompt the emergence of a new reserve currency. Yet, skepticism persists among experts about the practicality of this transformative shift.
Given the complexities of the global financial landscape, the notion of XRP assuming the mantle of a world reserve currency is both thought-provoking and speculative. While the enthusiasm is undeniable, the road to such a change features uncertainties.
Ripple CTO’s Opinion
Despite the skepticism, Ripple CTO David Schwartz’s position on the matter is more optimistic than most.
As The Crypto Basic reported earlier this month, Schwartz confirmed that he believes digital assets could challenge the US Dollar’s dominance as the world reserve currency.
While Schwartz did not specifically mention XRP, the asset fits the description along with other cryptocurrencies.
Schwartz confirmed that he believes multiple currencies can coexist as significant reserve assets. This would signify a paradigm shift in global finance.
In addition to the vision of XRP as a world reserve currency, the prospect of XRP reaching price targets of $10 or $25 is equally audacious.
Presently trading for $0.5178, a surge to $10 would require a 1,831% increase. Similarly, for XRP to hit $25, it must surge by a massive 4,728%.