Crypto expert Armando Pantoja has expressed a bold vision for Ripple’s XRP. He tweeted that the crypto could potentially replace the US dollar as the globe’s reserve currency.
Pantoja argues that Ripple is building payment rails for XRP to link and stabilize currencies worldwide. He asserts that this move puts XRP in a great position to replace the dollar in the global financial system.
To the nonbelievers: If #Ripple is building the payment rails for #XRP to link up and stabilize currencies everywhere, it might just be the one to take over the dollar’s spot as the global reserve currency. It’s so simple, it should be obvious. $XRP pic.twitter.com/WHPNz7YHbl
— Armando Pantoja (@_TallGuyTycoon) July 7, 2024
Ripple’s Vision
Pantoja’s tweet highlights Ripple’s goal of creating a global network for currency stabilization and payments across boarders.
The analyst says, “If #Ripple is building the payment rails for #XRP to link up and stabilize currencies everywhere, it might just be the one to take over the dollar’s spot as the global reserve currency.”
This vision aligns with Ripple’s mission to revolutionize international money transfers and bridge different financial systems.
XRP’s Current Market Performance
Despite the positive perception from some analysts, XRP’s market performance has been baffling for investors. The crypto, at press time, trades at around $0.4297, representing a 1.70% dip in the last day and a further 10.43% drop over the past week.
This price point indicates that XRP holders have not seen substantial gains during the current bull market, even as other crypto assets have experienced rallies.
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XRP’s Stalling Prices Amid Solid Fundamentals
Though many in the crypto sector believe that Ripple’s basics are valid there hasn’t been a major shift in the price of XRP. Ripple has taken the lead to create ties with financial institutions and expand its reach in the world.
The XRP community also remains active and committed to supporting the project’s objectives. Yet, these positive strides have not mirrored in an increase in XRP’s price.
This disparity between XRP’s potential and its stagnant market value prompts a closer examination of what drives cryptos prices. Despite the notion that XRP could displace the dollar, investors seem more swayed by market conditions and regulatory issues. XRP’s market performance appears to be lagging due in part to Ripple’s dispute with the SEC.
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