Ripple's technology director David “Joelkatz” Schwartz, used the annual rally XRP Las Vegas to publicly recognize, for the first time, that the company's constellation is now what can “be considered a financial system”. However, even if he exposed an expansive vision of banking functions on the balance sheet, Schwartz conceded that the link between the growth of this system and the market value of XRP itself remains “very difficult to do” and ultimately uncertain.
Ripple CTO casts doubt on the price of XRP prices
The exchange which forced the admission started when the independent journalist Vincent Scott asked the CTO if the three pillars of Ripple – the stablecoin of Rlusd -Pegged as an account unit, the large book XRP (XRPL) as a payment rail without authorization and XRP as a settlement or “gas” – could be read as a complete financial architecture. “Yes, you can consider these things as a financial system,” replied Schwartz, shaking Scott's hand before the latter recorded a confirmation video that quickly circulated on X.
A few hours later, the CTO elaborate On X: “I said that you could consider XRPL with other things that Ripple has built to be a financial system. I hope in the coming years, it can provide a significant fraction of the financial services that people need every day, from payments to loans to loans.” This ambition is partly based on Rlusd, a stablecoin at a point of a dollar whose public deployment began on December 17, 2024 and which is now live on the great native book of Ripple and Ethereum.
Community discussion quickly rotated if the expansion palette of XRPL assets could dilute attention to the jet itself. Schwartz pushed back but conceded nuance: “The XRPL is more than XRP. There are stablescoins, there will be real tokenized assets, loans of all kinds of things. A Dex does not work with a single asset, “he wrote. “But XRP has a privileged place on XRPL. This is the only asset that any account can receive. This is the only asset without compensation. First XRP liquidity checks. The self-refaction makes transaction offers with and from XRP.
This architectural primacy does not automatically translate into price assessment, a point that Schwartz stressed in a second thread: “The question to think is the value that XRPL can generate and to what extent it can be transformed into XRP value. It's very difficult to do.
Market data highlight ambiguity. XRP changed hands on Friday at around $ 2.14, marginally higher than a week earlier, despite a burst of bullish graphics projections that target the level of $ 3 and the update of the ecosystem of the Grand Book XRP.
Ripple's wider maneuvers highlight the source of this future speed. In April, the company agreed to buy Hidden Road, a main multi-active broker, for $ 1.25 billion, an agreement that will see brokerage using the RUSD as a guarantee and will transport a slice of its 3 billions of dollars in annual trading volume via XRPL once the acquisition is completed. If this pipeline materializes, the big book could manage an order of magnitude more than today; That this translates into a sustained request for Liquidity XRP is, by the own evaluation of Schwartz, always an open research problem.
For the moment, investors are left in balance two compensatory forces: a large expansion book which aspires to reproduce the banking functions of retail and large chain, and a native currency whose value capture mechanism, although privileged, is not mathematically repaired. As Schwartz told participants, “it's very difficult to do.” The market will decide whether the difficulty lies in the modeling of the relationship – or to achieve it.
At the time of the press, XRP exchanged $ 2.12.
Star image created with dall.e, tradingView.com graphic
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