Pundit Says XRP Hitting $10,000 Would Undermine the Very Purpose of XRP Ledger
The post Pundit Says XRP Hitting $10,000 Would Undermine the Very Purpose of XRP Ledger appeared on BitcoinEthereumNews.com. As excitement builds around bold XRP price predictions, one crypto pundit is drawing attention to a fundamental contradiction that such valuations might create. According to “Stellar Expert,” an XRP price of $10,000 would make the XRP Ledger (XRPL) inaccessible to ordinary users. He believes this would undermine the very principles on which it was built. XRP at $10,000 Would Price Out the Average User Stellar Expert argues that if XRP were ever to reach $10,000 per coin, the network would no longer serve its intended purpose. In his view, at such a high valuation, even basic network operations, such as activating a new account or holding custom tokens, would become prohibitively expensive. This effectively locks out everyday users and small developers. The XRPL was designed to provide liquidity, speed, and low-cost access. However, Stellar Expert warns that it could become an elite chain, where opening a wallet might cost tens of thousands of dollars. Notably, the concern centers around XRPL’s base reserve requirement, the minimum amount of XRP to activate a wallet or hold assets on the network. To prevent spam and abuse, the XRPL requires users to hold a small amount of XRP as a reserve. Until December 2024, activating an account required 10 XRP. However, a governance vote reduced this requirement to 1 XRP. The cost to open a trustline (used for holding tokens such as stablecoins) now stands at 0.2 XRP. At today’s price of $2.20, opening a wallet costs just $2.20. But if XRP were to reach $10,000, as some forecasts predict, the same 1 XRP requirement would translate to $10,000. A single trustline would cost $2,000, transforming a low-cost network into a luxury chain. Essentially, even with recent adjustments aimed at increasing affordability, a skyrocketing XRP price could reverse that progress. This raises the question:…
The post Pundit Says XRP Hitting $10,000 Would Undermine the Very Purpose of XRP Ledger appeared on BitcoinEthereumNews.com.
As excitement builds around bold XRP price predictions, one crypto pundit is drawing attention to a fundamental contradiction that such valuations might create. According to “Stellar Expert,” an XRP price of $10,000 would make the XRP Ledger (XRPL) inaccessible to ordinary users. He believes this would undermine the very principles on which it was built. XRP at $10,000 Would Price Out the Average User Stellar Expert argues that if XRP were ever to reach $10,000 per coin, the network would no longer serve its intended purpose. In his view, at such a high valuation, even basic network operations, such as activating a new account or holding custom tokens, would become prohibitively expensive. This effectively locks out everyday users and small developers. The XRPL was designed to provide liquidity, speed, and low-cost access. However, Stellar Expert warns that it could become an elite chain, where opening a wallet might cost tens of thousands of dollars. Notably, the concern centers around XRPL’s base reserve requirement, the minimum amount of XRP to activate a wallet or hold assets on the network. To prevent spam and abuse, the XRPL requires users to hold a small amount of XRP as a reserve. Until December 2024, activating an account required 10 XRP. However, a governance vote reduced this requirement to 1 XRP. The cost to open a trustline (used for holding tokens such as stablecoins) now stands at 0.2 XRP. At today’s price of $2.20, opening a wallet costs just $2.20. But if XRP were to reach $10,000, as some forecasts predict, the same 1 XRP requirement would translate to $10,000. A single trustline would cost $2,000, transforming a low-cost network into a luxury chain. Essentially, even with recent adjustments aimed at increasing affordability, a skyrocketing XRP price could reverse that progress. This raises the question:…
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