XRP Ecosystem Aims for 100,000 Active Projects to Catch up with Ethereum
Date: 2023-09-17 Author: Dima Zakharov Categories: BLOCKCHAIN
XRP Needs 100,000 Projects to Reach ETH
According to Crypto Eri, the XRP community should focus on projects that create solutions related to XRP instead of relying solely on Ripple's efforts to boost XRP's price.
She noted that there are approximately 1,000 projects within the XRP ecosystem, a figure provided by Marcus Infanger, Vice President of RippleX.
Crypto Eri stated that in order for XRP to compete with the largest smart contract network, Ethereum (ETH), there need to be 100,000 active projects within the XRP ecosystem.
Furthermore, she provided an alternative for XRP enthusiasts who were banking on Ripple's success. She recommended exploring direct investments in the company's stocks available on various platforms.
Is Ripple Departing from XRP?
These discussions arose after Yasin Mobarack, the founder of Dizercapital, claimed that Ripple was changing its reliance on XRP concerning cross-border payments.
Mobarack believes that Ripple may be exploring new use cases, such as providing cryptocurrency custody services for institutions.
Additionally, Mobarack echoed Crypto Eri's opinion that while Ripple's decision is sound, the XRP community should not rely on the payment firm alone for the growth of XRP prices. He expressed satisfaction with projects based on XRP, such as Xahau Network, Hooks, and Evernode.
"I feel that Ripple is shifting away from using XRP in cross-border payments to new use cases like institutional digital asset custody, derivatives, CBDCs, and carbon credit markets. I'm not saying this is a bad strategy, but for XRP to thrive in the long term, we can't rely solely on Ripple. That's why I welcome initiatives like Xahau Network, Hooks, and Evernode," he said.
Moreover, during the conversation, Crypto Eri quoted a Bloomberg report stating that stablecoin-based payments were surpassing the volumes of processed Mastercard transfers.
In response, Crypto Eri noted that the potential for stablecoins to outperform Visa in the near future might lead Ripple Liquidity Hub to support not XRP, but stablecoins like USDT and USDC.
