Ripple has once again become the center of attention following Donald Trump's election and Brad Garlinghouse's ambitious plans with the former president. The price surged sharply after news of Gary Gensler's resignation. With a new SEC chairman and Brad's recent dinner with Trump, it seems that things are finally starting to clear up for this cryptocurrency.
In a recent podcast with Scott Melker, Bloomberg's Mike McGlone expressed his confusion about the value of $XRP , especially when comparing it to stablecoins like Tether. He noted that both XRP and Tether have market capitalizations of around $100 billion to $140 billion, with cryptocurrency volumes increasing daily.
However, he still struggles to understand the value of XRP, as stablecoins provide instant transactions at low costs and are often considered safe. He questions why XRP stands out in this context.
The CEO and co-founder of CoinRoutes stated, “They (Ripple) believe their ledger will be used by the banking system to launch their own stablecoin or to utilize their stablecoin to do so. And if you believe that the XRP Ledger will be the technology underpinning the replacement of Swift, you could price XRP somewhere between $7 and $10, which is not unreasonable.”
He continued, “I never talk about scale, but I said because I looked into it and said, okay, they have the right relationships, they have the legal barriers that will disappear, and I think people will overlook the fact that they will have a real opportunity to be a part of the backbone of the new financial system. I could have a price target of $7 for my position, and that’s a really good profit. I mean, I don’t care. I’m not looking for a 100x.”
