The digital currency sphere is buzzing with discussions regarding the possibility of Ripple abandoning XRP, raising concerns within the crypto community.
However, recent developments have provided insights into reasons Ripple will maintain its commitment to the virtual currency.
XRP’s Recent Milestone and Expert Viewpoint on Ripple’s Prospects
One of the key developments that have contributed to the rising interest in XRP is the recent Dubai regulatory approval of the digital asset, reported on November 2.
This development now positions XRP as a legal and regulated token under its digital asset regime.
The remarkable decision now allows licensed companies to incorporate XRP into their operations, attracting a new wave of attention within its community. Meanwhile, Ripple has made most XRP community members believe it might shift its focus away from XRP.
This resulted from the company’s recent offerings involving the introduction of its Liquidity Hub product, which does not include XRP, despite the token’s newfound regulatory clarity in Dubai.
However, experts and legal perspectives provided a different angle on the situation, particularly from John Deaton, a pro-XRP attorney, who pointed out the strong connection between Ripple and XRP.
As I’ve said for more than 3 years, Ripple is not going to abandon #XRP. It has a fiduciary duty not to.
Do the math:
2015: Series A valuation – $128M
2016: Series B valuation- $410M
2020: Series C valuation- $10B
2022: Series C Buyback valuation – $15B
Last year, Ripple… https://t.co/xnMUqjcQS8
— John E Deaton (@JohnEDeaton1) November 2, 2023
Deaton emphasized Ripple’s journey from an initial Series A valuation of $128 million in 2015 to its recent Series C Buyback valuation of $15 billion in 2022.
Deaton’s analysis underscores Ripple’s confidence, as the company chose to repurchase its Series C shares at a 50% premium even during the crypto bear market and before the crucial SEC ruling.
Furthermore, Ripple’s pre-IPO shares currently trade at a level lower than the $15 billion used for buying back its Series C stock, reinforcing the notion that Ripple is committed to its future and, by extension, XRP.
The Ripple-XRP Relationship
Importantly, Deaton argues that due to the complex ties between Ripple and XRP, the company holds a fiduciary duty not to abandon XRP. Ripple’s substantial XRP holdings of 46.5 billion, as detailed in its market report, could be pivotal in Ripple’s success if XRP continues to thrive.
As such, the potential significance of XRP’s price milestones becomes apparent when considered in the context of Ripple’s balance sheet.
In essence, if XRP were to reach $2, Ripple’s valuation would skyrocket to $100 billion, and a $3 XRP would push the company’s value to $139.5 billion.
This compelling relationship highlights the mutual benefit that Ripple and XRP can offer each other. As these discussions unfold, experts also speculate on the possibility of a Ripple IPO.
Notably, the valuation and success of XRP could play a critical role in shaping the company’s IPO prospects, making it a development worth monitoring closely in the coming months.
In the meantime, Ripple continues to spearhead matters regarding enterprise blockchain and virtual currency solutions to change the narratives in the way global systems digitize, handle, and safeguard value.
Essentially, the company’s corporate offerings exhibit faster transactions, highly competitive costs, and enhanced transparency.
These attributes remain vital in addressing the inefficiencies that have characterized the usual standards for a long time.
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