- Renowned crypto author Panos Mekras has presented a bullish perspective on XRP highlighting XRP’s attributes, emphasizing its efficiency, decentralization, and role as a deflationary currency on the XRP Ledger.
- Mekras emphasized significant developments and a positive regulatory outcome for XRP in the United States, where it was officially declared not a security.
In recent cryptocurrency discussions, well-known crypto author Panos Mekras has presented strong arguments supporting his optimistic outlook on XRP, Ripple’s native cryptocurrency.
Responding to a crypto trader who expressed pessimistic views about XRP and detailed reasons for shorting the crypto asset, Mekras offered a counter perspective on the X platform.
In a recent statement, Panos Mekras emphasized the attributes of XRP, describing it as a highly efficient, decentralized, and deflationary currency native to the XRP Ledger. The XRP Ledger, an open-source and decentralized blockchain with a decade-long track record, is recognized as the original decentralized finance (DeFi) chain. It pioneered several significant advancements, including the introduction of the first decentralized exchange (DEX), the inception of stablecoins, tokenization of assets, and blockchain tokens, all while avoiding the risks associated with smart contracts.
Why I am long $XRP:
1) XRP is a super-efficient, decentralized, deflationary currency native to the XRP Ledger, an open-source, decentralized blockchain which has a proven track record of 10+ years, is the OG DeFi chain and introduced the first DEX, first… https://t.co/9p8nj0bOlM
— Panos 🔼{X} (@panosmek) December 14, 2023
Mekras pointed out that XRP has not only maintained its position but has also seen real-world adoption. Many companies and institutions are already utilizing XRP for foreign exchange settlement and cross-border payments. Ripple, the organization associated with XRP, is just one of many projects within the broader ecosystem. The diverse use cases and markets targeted by XRP indicate a competitive landscape with numerous potential winners.
Some of the global banking giants like Goldman Sachs have also referred to XRP as the ‘opportunity of the lifetime‘.
XRP’s ‘Security’ Clearance, Innovation and Much More
Moreover, Mekras highlighted significant developments and a positive regulatory outcome for XRP in the United States. With XRP being officially declared not a security, it has gained long-term clarity, allowing for unrestricted use and exchange. This favorable regulatory stance is expected to open the doors for new use cases, developers, and projects to flourish on the XRP Ledger (XRPL) without concerns about legal restrictions. Consequently, this is anticipated to boost the demand for both XRP, the cryptocurrency, and the XRPL network.
Despite recent developments, Mekras suggested that the current market cap of XRP is relatively low compared to its full potential, taking into account ongoing developments and future prospects. He emphasized the transformative evolution of XRPL from a blockchain, primarily focused on payments to a forward-looking blockchain and ecosystem that extends beyond payments. Notable features and developments, such as NFTs, Hooks, AMM, EVM sidechain, and DIDs, contribute to XRPL’s transformation into a dynamic hub of innovation.
Mekras pointed out that the XRPL is witnessing a surge in projects, with hundreds currently under development. These projects cover a broad spectrum of use cases and ideas, contributing to increased network activity and, subsequently, heightened demand for XRP. Anticipation is building for the launch of upcoming developments, which is expected to attract even more developers and builders to further enhance the XRPL ecosystem.
At press time, XRP is trading 1.54% down at a price of $0.6224 and a market cap of $33.6 billion.
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