Ripple News: Mike McGlone Raises Questions on XRP's Value Amidst Price Surge
Ripple (XRP) has been making headlines lately, with its price surging significantly following the election of Donald Trump and Brad Garlinghouse's ambitious plans. The recent resignation of Gary Gensler as SEC chair has also added to the excitement. However, not everyone is convinced about XRP's value.
_Mike McGlone Expresses Doubts_
In a recent podcast with Scott Melker, Bloomberg's Mike McGlone expressed his confusion about XRP's value, especially when compared to stablecoins like Tether. He noted that both XRP and Tether have market caps of around $100 billion to $140 billion, with crypto volumes growing daily. Despite this, McGlone struggles to understand XRP's value, given that stablecoins offer instant transactions with low costs and are generally considered secure.
_CEO of CoinRoutes Weighs In_
CEO and co-founder of CoinRoutes, however, has a different perspective. He believes that Ripple's ledger will be used by the banking system to launch their own stablecoins or to use their stablecoin. He also thinks that if XRP Ledger becomes the technology underlying the replacement to Swift, the valuation could be somewhere between $7 and $10.
_XRP Price Target_
The CEO of CoinRoutes also mentioned that he could have a $7 price target on his position, which he believes is a reasonable return. He emphasized that he's not looking for a 100x return, but rather a stable and secure investment.
_Amidst the Debate, XRP's Price Continues to Surge_
As the debate around XRP's value continues, its price remains on an upward trajectory. With a new SEC chair in place and Brad Garlinghouse's recent dinner with Trump, it appears that things are finally starting to clear up for the coin. Only time will tell if XRP's value will continue to surge or if it will face new challenges.
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