Prominent XRP figure Eri urges the community to look beyond Ripple for long-term XRP growth, citing the need for 100k projects to rival ETH’s scale.
In a recent tweet, Crypto Eri, a prominent influencer known for her pro-XRP views, argued that the XRP community should look past Ripple for XRP’s long-term value. “We cannot rely on Ripple,” Crypto Eri remarked.
Notably, her remark comes in response to a known XRP analyst who expressed disapproval that Crypto Eri applauded a view that Ripple is steering away from XRP.
We cannot rely on Ripple. It’s the builders we should be focusing on. XRP ecosystem has approximately 1000 projects according to Ripple Markus Infanger at Apex. We need 100,000 active projects to even get close to ETH. If you love to focus on Ripple, shop for private equity that…
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) September 14, 2023
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XRP Needs 100k Projects to Reach ETH
According to Crypto Eri, the XRP Army should focus on the projects building XRP-related solutions rather than solely relying on Ripple’s effort to boost XRP’price.
She cited that there are around 1,000 projects in the XRP ecosystem. This estimate was per information from Ripple’s Vice President of RippleX Growth, Markus Infanger.
Crypto Eri expressed that for XRP to come close to the scale of the largest smart contract network, Ethereum (ETH), the XRP ecosystem needs to have 100,000 active projects.
Moreover, she provided an alternative for the XRP enthusiasts banking on Ripple’s business success. She recommended exploring private equity options available on multiple platforms.
“If you love to focus on Ripple, shop for private equity that is sold on more than a dozen platforms with competitive prices,” Eri stated.
Ripple Shifting from XRP?
Notably, these conversations ensued after Yassin Mobarak, the founder of Dizercapital, expressed that Ripple was shifting its reliance on XRP regarding cross-border payments.
Mobarak believes Ripple could be seeking new use cases, such as providing custody of cryptocurrencies for institutions.
Additionally, Mobarak echoed Eri’s sentiment that while Ripple’s move is fine, the XRP Army should not rely on the payment firm for XRP’s price growth. He expressed delight at the coming of XRP-based projects such as Xahau Network, Hooks, and Evernode.
I’m sensing Ripple is shifting from reliance on XRP in cross border payments to new use cases such as institutional custody of digital assets, derivatives, CBDCs, and carbon credit markets.
Not saying that’s a bad strategy at all, but in order for XRP to prosper long-term we… https://t.co/4bgHcTZaB5
— Yassin Mobarak 🪝 (@Dizer_YM) September 14, 2023
Also, in the conversation trend, Eri cited a report from Bloomberg, which captured that stablecoin-based payments surpassed the volume of the translations Mastercard processed.
In response, Eri noted that the potential for stablecoins to outperform Visa and Bitcoin in the near future could be a reason Ripple’s Liquidity Hub supports not XRP but stablecoin USDT and USDC.
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Source: https://thecryptobasic.com/2023/09/15/top-analyst-says-xrp-ecosystem-needs-100k-active-projects-to-get-close-to-ethereum/?utm_source=rss&utm_medium=rss&utm_campaign=top-analyst-says-xrp-ecosystem-needs-100k-active-projects-to-get-close-to-ethereum