Gold-Backing XRP and Unrealistic Predictions: What Experts Say

user avatar

by Giorgi Kostiuk

a year ago

A recent post on social media by Ripple supporter RipplePumpkin has sparked heated discussions among crypto investors, suggesting that XRP could be gold-backed and reach a price of $2,953 by Q3 2025.

Price Predictions for XRP

RipplePumpkin's post also suggests a price range for XRP between $10,000 and $35,000 due to anticipated shifts in the financial system. However, these forecasts have led to disputes and criticism within the crypto community.

Expert Opinions on Gold-Backing

Matt Hamilton, a former developer and executive at Ripple, previously debunked similar claims, stating that gold-backing XRP is impractical due to its finite supply and decentralized structure. Analysts have also emphasized that tokenizing gold on the XRP Ledger is a separate concept not directly linked to XRP's valuation.

Current Market Conditions

The current market dynamics, including the ongoing Ripple-SEC lawsuit, add complexity to this narrative. Currently, XRP is trading significantly below these projections, and its value hinges on adoption, utility, and market sentiment.

The optimistic scenario from XRP supporters remains speculative, and the reality is clear: gold-backing XRP is a distant dream, not a near-term reality.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

XRP Ledger Validators Advance Maintenance Amendment Amid Challenges for Lending Features

XRP Ledger validators have advanced the fixCleanup340 amendment, clearing the 80% support threshold for activation, while lending features face governance challenges.

user avatarZainab Kamara

Latvia Implements New Crypto Tax Legislation

Latvia has passed a new law changing the taxation of crypto investment account gains, focusing on withdrawals rather than individual trades.

user avatarSon Min-ho

Significant Bitcoin Transfer from 2013 Wallet Sparks Market Speculation

An early Bitcoin holder has moved approximately 41,145 BTC from a dormant wallet, raising concerns and interest among traders.

user avatarAyman Ben Youssef

Cysic Halts Crosschain Bridge Following Token Creation Incident

Cysic has suspended its crosschain bridge after an attacker created 10 million unauthorized CYS tokens on BNB Chain and converted part of the supply into assets moved toward Ethereum.

user avatarTando Nkube

Qubic Network Halts Operations Following Major Security Breach

Qubic has halted its network operations after a significant security breach, where attackers exploited weakly generated wallet credentials to steal approximately 14 million in cryptocurrency from over 1,400 accounts.

user avatarKofi Adjeman

JPMorgan Expands JPM Coin to Public Ethereum for Institutional Users

JPMorgan is launching its bank-issued deposit token, JPM Coin, on the Ethereum blockchain for institutional users.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.