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Market Analysts Speculate Ripple's XRP Could Evolve Into a Gold-Backed Stablecoin

Market Analysts Speculate Ripple's XRP Could Evolve Into a Gold-Backed Stablecoin

CointimeCointime2024/02/17 09:41
By:Cointime

Market analysts are speculating that Ripple's XRP could potentially become a gold-backed stablecoin, which would differ from traditional USD-pegged stablecoins. Black Swan Capitalist Founder Versan Aljarrah believes that XRP could play a vital role in the development of a gold-backed stablecoin, as institutions like the World Bank and International Monetary Fund have been urging for such a development. Aljarrah cited research conducted by Black Swan Capitalist's financial analyst Vandell and Miles Franklin CEO Andy Schectman, which concluded that XRP is the "key" to a gold-backed stablecoin. However, former Ripple director Sean McBride believes that XRP is more likely to be classified as a payments stablecoin, rather than a traditional stablecoin.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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