Renowned crypto author Panos Mekras has highlighted compelling grounds for his bullish perspective on XRP.
Taking to X, Mekras countered the view of a crypto trader who shared negative sentiments about XRP in a post in which he explained why he had shorted the crypto asset.
Why I am long $XRP:
1) XRP is a super-efficient, decentralized, deflationary currency native to the XRP Ledger, an open-source, decentralized blockchain which has a proven track record of 10+ years, is the OG DeFi chain and introduced the first DEX, first… https://t.co/9p8nj0bOlM
— Panos ?{X} (@panosmek) December 14, 2023
XRP Pioneering Ecosystem
In an opposite sentiment, Mekras noted why he has a longer XRP. He highlighted XRP’s attributes as a super-efficient, decentralized, and deflationary currency native to the XRP Ledger (XRPL). In parallel, he emphasized the XRPL’s decade-long track record.
According to the prominent author, XRPL has served as the foundational DeFi chain and pioneered key features such as decentralized exchange (DEX), stablecoins/tokenization of assets, and blockchain tokens.
Mekras underscored that XRPL accomplished the highlighted milestones without the inherent risks typically associated with smart contracts.
Addressing concerns about XRP’s adoption, Mekras dismissed doubts. He asserted that numerous companies and institutions actively use XRP for foreign exchange settlement and cross-border payments. He clarified that Ripple is just one among many projects within the ecosystem.
Previously, The Crypto Basic unveiled more than 1,500 projects building on XRPL in various sectors. Their sectors include infrastructure, wallet, NFTs, exchanges, gaming, security, payments, and CBDCs.
XRP Granted Perpetual Clearance
Meanwhile, the second point Mekras highlighted was XRP’s significant regulatory milestone in the United States. He noted that with the U.S. federal court’s declaration that XRP is not a security, the cryptocurrency is granted perpetual, unrestricted use and exchange.
Additionally, he stated that the regulatory clarity encourages new use cases, attracts developers, and fosters additional projects on the XRP Ledger. He believes the situation ultimately boosts demand for both XRP and its network.
Also, the crypto author drew attention to the comparatively low market cap of XRP in relation to its full potential and recent developments. He expressed optimism about the future. Mekras anticipates further growth and increased demand as new use cases and projects unfold.
XRPL Morphing into Powerhouse of Innovation
Lastly, Mekras touched on XRPL’s transition into a powerhouse of innovation. He highlighted that XRPL was originally designed for payments but has transitioned far beyond payments.
Specifically, the renowned author stated that XRPL is evolving into a future-proof ecosystem with features like non-fungible tokens (NFTs), Hooks, automated market makers (AMMs), EVM sidechains, and decentralized identities (DiDs).
Nobody Can Stop XRP
Meanwhile, an X user asked Mekras to clarify other points the XRP critic mentioned in his post, such as price suppression, short pressure, and FUD.
In response, Mekras remarked that their long-term relevance fades away in the grand scheme of things.
“Nobody can stop what’s coming both for XRP and the industry as a whole,” he submitted.