XRP Ledger Developer Addresses The XRP $10,000 Price Controversy

With a focus on this year's anticipated bull run, much debate is ongoing on the potential price increases for XRP. A dilemma has sprouted among XRP holders, given XRP's stalling performance and the prevailing expectation that it will reach $10,000 in the upcoming bull market.

In a recent interview, the founder of Zerpmon, a ripple Ledger-based NFT game Shen, weighed in on the XRP price debate.

Shen Highlights The Major Challenge On The XRP $10,000 Price Outlook

During the interview with a popular XRP community personality, Crypto Eri, Shen highlighted the XRP community's low engagement inasset holding.

In the words of a builder regarding the $10,000 #XRP price.

To view the full-length video: https://t.co/zQvEjgBVAT pic.twitter.com/trweBhMpu8

- Crypto Eri Carpe Diem (@sentosumosaba) January 14, 2024

According to Shen, low participation and support from the community will affect XRP's price rally. Moreover, it could limit the overall growth rate of the asset ecosystem when compared to other rival networks.

Further, the builder noted that the controversy emanated from the idea among some ripple holders who anticipate a surge to $10,000 for XRP.

He argued that these holders stick with a passive strategy, only accumulating and storing XRP tokens without using them while expecting a value appreciation. As a result, XRPL has been battling with low activity.

Shen stated:

As a builder, I think one of the biggest reasons why the XRPL has such low participation compared to the number of holders is because of this idea that's perpetuated - that you hold XRO, stash it away, and one day it'll be worth $10,000 each. The problem is that no one is using their XRP.

Active Participation And Engagement: The Key To Price Growth

The builder suggested the need for XRP holders to engage their holdings to activate price growth. Moreover, this implies that mere holding of ripple could never trigger any surge, irrespective of their anticipation.

Additionally, Shen compared the successful journeys of other prominent digital assets like Ethereum (ETH), Solana (SOL), and Binance Coin (BNB).

Also, he noted that these tokens recorded outstanding growth rates in their respective ecosystems through increased activity from holders. Shen mentioned that the ripple community needs a paradigm shift in its context of holding just for speculative profits.

Instead, it's time for the holders to actively use their XRP coins in the ecosystem to trigger a positive change. Further, Zerpmon's founder believed that XRP's price rally and XRPL's sustainable growth lie in the hands of holders.

He said that will happen if they devise reasons to use their holdings. Following Shen's assertion, some members of the ripple community agreed with the developers.

However, some argued that an increase in XRP's price and utility has nothing to do with retail users. From a different point of view, an X user believed that the resolution of the Ripple vs. SEC lawsuit would bring XRP's price rally. He believes that XRP is facing attacks from different angles.

Price appreciation will happen once the case is finalized. #XRP has been attacked from all angles. #XRP has been working well for 10 years now, with the kitchen sink being thrown at it..

- RIZ.XRP (@RizXRP) January 14, 2024

Meanwhile, XRP grapples with slow performance even amid the increased investor optimism in the broader market, with most tokens posting higher highs. As of 05:30 AM EST on January 15, XRP trades at $0.58, reflecting a slight increase of 0.16% over the past 24 hours.

The post XRP Ledger Developer Addresses The XRP $10,000 Price Controversy appeared first on The Tech Report.