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HomeCrypto NewsMarketXRP Price To Rise With XRPL Adoption, Industry Leader Claims

XRP Price To Rise With XRPL Adoption, Industry Leader Claims


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As the adoption of the XRP Ledger (XRPL) continues to rise, a prominent blockchain project advisor believes XRP’s will surge accordingly, stating his reasons.  

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Although investor interest in XRP has waned, as evidenced by the high selling pressure on the crypto asset, some industry leaders believe its adoption will only surge from here.

Kevin Cage, a prominent crypto investor and advisor to Iron Key Capital, recently echoed these sentiments. Contrary to some unpopular opinions, Cage submitted that XRP’s price would appreciate as XRP Ledger adoption rises. 

He remarked: “I’ve seen some comments claiming that the XRPL will become widely adopted, but that XRP will NOT appreciate in value with it. As liquidity, connectivity, and development grow on the XRPL, XRP will likely appreciate too.”

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Notably, the fast, low-cost, and decentralized XRP Ledger has recorded significant adoption from both governments and firms in the past months. 

Recall that the Republic of Palau recently launched the Palau Stablecoin (PSC) on the XRP Ledger. Likewise, top firm Catalyze Research teamed up with Ripple in July to expand XRPL’s presence in South Korea. 

How XRPL Growth Can Affect XRP Price

Cage, who implied that the XRP Ledger advancement bodes well for XRP, further gave reasons for his bullish expectations on the fifth-largest crypto asset by market cap. 

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First, the top investor pointed out that XRP is the native token of the XRPL. Accordingly, Cage highlighted that every account on the XRP Ledger needs to hold an amount of XRP to execute transactions or other activities on the network. “Features like escrow and payment channels only work with XRP,” he wrote. 

According to him, an increased XRPL adoption would result in a heightened demand and usage of the token within the ecosystem. In turn, increasing use could impact the XRP price positively. 

Further, he mentioned that more XRP tokens would be burned as accounts on the XRP Ledger increased. Accordingly, more token burns could help boost the price of XRP.

It bears noting that the network destroyed a certain amount of XRP per transaction. As updated by Cage, 11,541,120 (11.5 million) XRP has been permanently incinerated from network burns. 

Notably, several analysts expect XRP’s price to rally in the coming months. In a recent outcome, prominent chartist Egrag predicted XRP to rally by over 63,000% to $333, citing historical patterns.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom is a crypto journalist and content writer who has been talking about crypto and blockchain technology since 2018. With a knack for translating complex concepts into engaging narratives, he takes pleasure in educating and informing industry players about developments in space. Armed with industry expertise and a commitment to delivering accurate and thought-provoking content, he has produced thousands of articles including news and educational content for various projects and blogs, showcasing his versatility and dedication to his craft. He holds a Bachelor's degree in Petroleum Engineering.

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