Growth prospects of the XRP ecosystem and new tokens

A large number of XRP are actively used in wallets, trustlines and transactions by avid users – hundreds of thousands of them! Moreover, there is even some XRP hidden by PNG collectors. Now the analyst begins his analysis on the possible growth of this entire ecosystem, perhaps 2, 5 or even 10 times in size.

A blessing or a curse?

Artur Kirjakulov, the CEO of XPMarket.com, has common misconceptions within the XRP community challenged regarding the impact of new tokens and the expansion of the XRP Ledger (XRPL) on the value of XRP. He is convinced of the positive influence of these developments on XRP and substantiates his position with strong arguments.

Kirjakulov first highlighted the growing number of wallets on XRPL, noting that each new wallet requires a certain amount of XRP. This growth indicates an increasing demand for XRP, similar to a larger party where more guests require a higher entrance fee.

In addition, the analyst examines the trustlines within the XRPL ecosystem that require XRP to be locked. More trustlines mean more XRP temporarily taken out of circulation, promoting scarcity and potential appreciation. This adds to why analysts are optimistic about XRP reaching a new All-Time High (ATH) in April.

Furthermore, Kirjakulov analyzes the demand for XRP in trading activities on the decentralized exchange and liquidity pools of XRPL. He cites statistics that show a significant amount of XRP being held due to these transactions, demonstrating its utility and demand within the ecosystem.

NFTs as the icing on the cake!

The analyst concludes his analysis by pointing out the role of NFTs in driving demand for XRP, as storing NFTs on XRPL requires using XRP. This demand from major NFT collectors adds an extra dimension to the usefulness of XRP beyond simple transactions.

Overall, Kirjakulov urges the XRP community to consider the broader implications of the expansion of XRPL and the introduction of new tokens. Rather than seeing them as threats, he believes they enhance XRP’s value proposition by creating additional channels that require their use.