The laws of physics, economics, and common sense have long been canceled. XRP, a coin that just a couple of years ago many called 'dead' and 'toxic' due to legal disputes with the SEC, suddenly flew into the club of 'super-expensive assets,' breaking the $3 mark.
The market capitalization of XRP is over $181 billion. Now it is comparable to Pinduoduo, Deutsche Telekom, and companies that produce, sell, and deliver quite real goods and services to people. Unlike XRP, which, well, let's be honest... mainly exists on exchanges and in Twitter memes.
And here is where the fun begins. While Deutsche Telekom builds networks, lays cables, and serves millions of customers, XRP just rises in price. And everyone pretends that this is perfectly normal.
The coin's supporters rejoice: 'This is the beginning of a new era! XRP is the future of international payments!' Sounds nice. However, we have been hearing the same slogans for about ten years, and so far not a single cashier in a supermarket accepts payment in 'ripple'.
What’s the funniest thing? Against the backdrop of all this euphoria, XRP bursts into the top 100 global assets by capitalization. That is, somewhere on the neighboring line with companies that make cars, medicines, or provide communication to millions of people. The only question is: what does XRP actually create?
The world is divided. Some say: 'XRP has finally proven that cryptocurrencies are the future.' Others note: 'If a token that does almost nothing is worth more than Deutsche Telekom, that’s not the future, that’s a diagnosis for the market.'
But still - it’s exciting. XRP has survived years of lawsuits, tons of criticism, and mockery, and yet now it is proudly waving to us from the top at three dollars.
Remember this day: when the history of cryptocurrencies will be rewritten, perhaps today will become a new starting point. Or maybe, just another bubble that we will discuss in a couple of months.
