Anticipation is building within the XRP community as the highly awaited launch of the RLUSD stablecoin approaches. This has led to speculation and excitement among investors, with some even predicting significant price gains for XRP.
The source of this excitement can be traced back to a post by Vet, a well-known validator on the XRP Ledger. In a humorous manner, Vet suggested that if RLUSD were to reach $1, it would be considered “big news”. Normally, RLUSD is expected to maintain a steady value of $1 as it is pegged to the U.S. dollar.
However, this joke gained traction when Crypto Tank, a community member and self-proclaimed researcher, expanded on Vet’s remarks. Crypto Tank speculated that if one drop of XRP, which is currently divided into 1 million units per token, were to equal the value of one RLUSD, then a single XRP token would be worth $1 million.
Despite its speculative nature, this theory, now known as the “Million-Drop Theory,” has generated excitement among XRP investors. It has captured the imaginations of many within the XRP community, as drops could become more practical if XRP’s price rises significantly, similar to how Satoshi’s are used in Bitcoin transactions.
While the idea of XRP reaching $1 million per token may seem like a pipe dream, there are factors that could drive XRP’s price upward in the near future. A crypto analyst highlighted these factors on the X platform, suggesting that XRP could experience unprecedented developments by 2025.
Some of these factors include the recent admission by the SEC that it was wrong in classifying XRP as a security after a 4-year legal battle. This brings legal clarity to the project and could attract institutional interest. Additionally, Grayscale is reportedly working on creating an XRP ETF, which could further boost institutional involvement.
The RLUSD stablecoin from Ripple is also expected to enhance liquidity in the XRP ecosystem, increasing its utility. The resolution of the SEC vs. Ripple case removes a significant legal obstacle and opens the door for more institutional partnerships. Ripple already has major partnerships with leading global banks, further strengthening XRP’s role in cross-border payments.
Currently, XRP is trading at $0.5845, with a slight decline of 0.40% in the last 24 hours and 1.07% in the past week. The digital asset’s market cap currently stands at $32.9 billion.
In conclusion, the launch of the RLUSD stablecoin has sparked excitement and speculation within the XRP community. While the Million-Drop Theory may seem far-fetched, it has captured the attention of investors. Several factors, including legal clarity and institutional interest, could drive XRP’s price upward in the future.