[Well-known wealth advisor: Ripple ODL will increase XRP price]
Wealth advisor Mickle recently took to social media to clarify his views on Ripple’s ODL product. He believes that ODL has a significant impact on XRP prices, countering those who believe that the buying and selling dynamics of ODL trading cancel each other out.
Mickle emphasized that market makers need to hold enough XRP when facilitating ODL transactions. As ODL transactions grow, the demand for XRP from these market makers increases, resulting in a tight supply of tokens, thus driving the price upward. He believes that ODL’s global expansion will further increase demand for XRP as more market makers will need to hold XRP reserves.
However, Ripple and some of its top executives confirmed that ODL transactions are demand-neutral. XRP community member Eri mentioned that Ripple stated in court documents that ODL transactions had no significant impact on the price of XRP because each transaction would buy and sell the same amount of XRP in a short period of time, effectively neutralizing the impact on the market. Influence.
Eri also noted that Bob Way, the former Ripple product manager cited by Mickle, has left the company and that Ripple’s ODL operations are different now than they were in the past.
At the same time, Mickle also mentioned that regulatory changes and possible interest rate cuts by the Federal Reserve may create a more favorable environment for the cryptocurrency market, prompting a bull market, and XRP is expected to benefit. In addition, he discussed Ripple’s legal dispute with the SEC, saying that the SEC may be more cautious when appealing the Ripple case to avoid affecting its position in other cases.
