Tech

XRP Price Predictions Soar to $1M Amid Speculation Over RLUSD

2 months ago
Bitcoin Ethereum News
  • The highly anticipated launch of the XRP stablecoin RLUSD has sparked excitement and speculation within the XRP community, with some predicting significant price gains for the digital asset.
  • Despite the speculative nature of the “Million-Drop Theory,” the theory has captured the attention of XRP investors.

Excitement is mounting, and social media is buzzing with discussion of the highly awaited XRP stablecoin RLUSD. What began as a joke has now gained some serious traction among investors, sparking bold predictions about XRP’s price trajectory. 

The origin of this bold prediction stems from Vet, a well-known validator on the XRP Ledger via a post on the X platform. He humorously suggested that the launch of RLUSD would be “big news” if it hit $1. On normal conditions, Ripple’s stablecoin, RLUSD, which is pegged to the U.S. dollar, is expected to maintain a steady value of $1. 

However, the joke took on a life of its own when a community member and self-proclaimed researcher, Crypto Tank, expanded on Vet’s satirical remarks. He speculated that if one drop of XRP—currently divided into 1 million units per token—were to equal the value of one RLUSD, this would result in a single XRP token being worth $1 million. 

Notably, this theory, which has come to be known as the “Million-Drop Theory,” has ignited excitement among XRP investors despite its speculative nature.

Although many might perceive the MillionDrop theory as far-fetched, it has captured the imaginations of many, especially those within the XRP community. Even though the use of the term “drops” is new to many, especially when it comes to XRP, the use of drops could become more practical if XRP’s price soars, much like how Satoshi’s are used in Bitcoin’s transactions. 

While the idea of XRP hitting $1 million per token is just a pipe dream, some evident factors could drive XRP’s price upward soon. As one crypto analyst highlighted on the X platform, having these factors underway, XRP could see an unprecedented turn of events by 2025.

First, as we earlier reported, the SEC recently admitted it was wrong in classifying XRP as a security after a 4-year legal battle. This for one brought with it legal clarity, the holy grail that other crypto projects seek. Additionally, word has it, that Grayscale is working on creating an XRP ETF, which could greatly boost institutional interest in the digital asset. 

Ripple’s RLUSD stablecoin is also expected to enhance liquidity in the XRP ecosystem, further increasing its utility. The resolution of the SEC vs. Ripple case has removed a significant legal overhang, opening the door for more institutional partnerships. Ripple already has major partnerships with leading global banks, which could amplify XRP’s role in cross-border payments.

At the time of writing, Ripple’s XRP is swapping hands with $0.5845, marking a 0.40% and 1.07% decline in the last 24 hours and past week, respectively. Additionally, the digital asset’s market cap currently stands at $32.9 billion.  

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Source: https://www.crypto-news-flash.com/xrp-price-predictions-soar-to-1-million-amid-speculation-over-ripples-rlusd-stablecoin/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-price-predictions-soar-to-1-million-amid-speculation-over-ripples-rlusd-stablecoin