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HomeCrypto NewsMarketExpert Says Ripple Not Abandoning XRP

Expert Says Ripple Not Abandoning XRP


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XRP community figure Eri says Ripple is not leaving XRP for global payments, citing strong client demand for stablecoins as reason for inclusion of USDT and USDC in Liquidity Hub.

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Crypto Eri, a prominent influencer in the XRP community, has clarified the growing view about Ripple ditching XRP in its product offering to businesses. In a recent tweet, the influencer proclaimed that Ripple was not abandoning XRP. 

Notably, Crypto Eri came to her conclusion based on certain factors, including Ripple’s substantial XRP holdings.

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Why Ripple Won’t Ditch XRP

The first factor she highlighted was that Ripple itself is a large holder of XRP. Given that the payment firm owns XRP in billions, it may not be logical that it abandons XRP for other cryptocurrencies for cross-border payment services.

Furthermore, Crypto Eri highlighted a past statement from Ripple’s Chief Technology Officer, David Schwartz, where he reportedly said Ripple’s XRP holding serves as a strategic weapon.

Notably, the concerns that Ripple was deserting XRP intensified following the firm’s decision to add stablecoins to its Liquidity Hub product.

Last week, The Crypto Basic reported that Ripple expanded its Liquidity Hub service to Australia and Brazil with Circle USD (USDC) and Tether USD (USDT). XRP was not included in the expansion bid.

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The development particularly sparked reactions given that XRP’s regulatory status had become clear in the July court ruling.

Meanwhile, Eri noted that Ripple’s decision to use stablecoin USDT and USDC rather than XRP was not wrong. According to her, Ripple was merely fulfilling the wants of its client base.

“To become an Amazon, one must expand, giving clients what they want (stablecoins, etc.),” the pro-XRP analyst remarked.

Stablecoins Appeal

Moreover, in a previous statement, Crypto Eri highlighted the significant place stablecoins have occupied within the last two years in payment processing. Quoting data from Bloomberg, she noted that stablecoin payments trumped Mastercard in volume in 2022.

In particular, Bloomberg revealed that stablecoins processed above $6.87 trillion, while Mastercard saw $6.57 trillion. Crypto Eri resolved that Ripple added stablecoins to its Liquidity Hub to tap their global market appeal.

Other Ripple products, such as On-Demand Liquidity (ODL), use XRP to facilitate intercontinental payments. The Crypto Basic reported yesterday that one of Ripple’s partners processed 1,700% more transaction volume using ODL.

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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.



Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a blockchain writer with a specific interest in journalistic writing. He covers breaking events in the crypto community and blockchain industry. Over the past year, he has published over 1,500 short-form and long-form content for Web3 publishing firms.

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