XRP price rises: Ripple CEO talks about stablecoin and ETF plans

XRP price rises: Ripple CEO talks about stablecoin and ETF plans

Ripple price achieved a nearly 5% increase on Thursday, breaking resistance at $0.60. This development shows a positive trend compared to the low of $0.58 at the beginning of the week. Regarding this price increase, Brad Garlinghouse, the CEO of Ripple, commented during his participation at the Paris Blockchain Week. He discussed plans to launch a stablecoin and emphasized the importance of liquidity on the XRPLedger.

Garlinghouse explained that other exchange-traded funds (ETFs) could appear on the market alongside Bitcoin, although this may take some time in the US. The focus of his talk was on the role of USD-backed stablecoins and the potential increase in liquidity on the XRPLedger. He highlighted that the introduction of a stablecoin would significantly increase the liquidity of the XRPLedger. Currently, Ripple is planning to launch a USD-backed stablecoin in the market.

Ripple, as a payment service provider, has over 100 members in RippleNet who use the XRPLedger to implement various commercial use cases. Garlinghouse also predicted significant growth in the market capitalization of stablecoins to two and a half to three trillion dollars in the next four to five years. This highlights the potential and importance of a stable cryptocurrency ecosystem for Ripple and the XRPLedger.

Overall, the Ripple price has increased steadily this week and was able to successfully convert the resistance at $0.60 into support. Technical analysis shows a positive trend, with XRP price in an ascending channel and further resistance on the way to overcome. The green bars of the Awesome Oscillator (AO) support the increasing gains in XRP. It remains to be seen how the market dynamics will develop further, especially with regard to the launch of the planned stablecoin and its impact on the XRPLedger.