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<p>Ripple, the blockchain company behind the XRP cryptocurrency, announced major plans on Thursday to <a href="https://captainaltcoin.com/ripple-unveils-plans-for-us-dollar-backed-stablecoin-on-xrp-ledger-and-ethereum-all-you-need-to-know/" target="_blank" rel="noopener noreferrer nofollow">launch a USD-backed stablecoin</a>. This news has led to speculation about whether Ripple’s new stablecoin could make XRP obsolete. However, a deeper analysis by <a href="https://twitter.com/krippenreiter/status/1776043540390281283?s=46" target="_blank" rel="noopener noreferrer nofollow">Krippenreiter</a> reveals key differences between the two cryptocurrencies and why XRP’s uniqueness ensures it will continue to thrive.</p>
<p>What is a Stablecoin? A stablecoin is a cryptocurrency designed to maintain a stable value, often by being pegged to a reserve asset like the U.S. dollar. The goal is to provide the benefits of cryptocurrencies like fast transactions and decentralization while avoiding the price volatility of assets like Bitcoin. Major stablecoins include Tether (USDT) and USD Coin (USDC).</p>
<p>According to reports, Ripple plans to create an “enterprise-grade, compliant, multichain-compatible” stablecoin backed 1:1 by USD reserves. Their aim is to foster trust via transparent monthly audits and a “compliance-first mindset.” The stablecoin will initially launch on the <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> Ledger and Ethereum blockchains.</p>
<h2 class="wp-block-heading" id="is-xrp-doomed">Is XRP Doomed?</h2>
<p>Despite the stablecoin news, there are several key reasons why XRP is not “doomed” and will likely continue thriving alongside Ripple’s new offering:</p>
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<p><strong>Neutrality</strong> – Stablecoins are inevitably tied to their issuer, while XRP is a globally neutral asset tied only to the decentralized XRP Ledger.</p>
<p><strong>No Counterparty Risk</strong> – Stablecoins rely on their issuer’s reserves, raising concerns if the issuer fails. XRP has no such counterparty risk.</p>
<p>True Transparency – While audits provide some transparency, XRP’s full transaction history is publicly visible on the XRP Ledger.</p>
<p><strong>Unified Currency</strong> – Rather than fragmenting liquidity across multiple stablecoins, XRP remains the sole currency on the XRP Ledger’s DEX.</p>
<p><strong>Unconstrained Supply</strong> – Stablecoins can be created/burned by their issuer, while new XRP issuance follows XRP Ledger’s consensus protocol.</p>
<p><strong>De-Dollarization </strong>– Some argue XRP’s lack of fiat-backing is an advantage if the world loses faith in government-issued currencies.</p>
<h2 class="wp-block-heading" id="massive-market-potential">Massive Market Potential</h2>
<p>While a Ripple stablecoin listing on the XRP Ledger DEX may initially boost XRP trading volumes, the real significance is stablecoins’ overall market potential. The global stablecoin market cap exceeds $135 billion, with Tether’s $83 billion leading the pack on Ethereum. This shows the enormous liquidity a Ripple stablecoin could unlock by tapping into the XRP ecosystem’s speed and low costs.</p>
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<p>The post <a href="https://captainaltcoin.com/is-xrp-doomed-after-ripple-announced-a-new-stablecoin/" rel="noopener noreferrer nofollow">Is XRP ‘Doomed’ After Ripple Announced a New Stablecoin?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is XRP ‘Doomed’ After Ripple Announced a New Stablecoin?

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