XRP has underperformed in recent months, but it remains a coin with significant potential. An avid supporter of the digital currency, Ashley Prosper, even states that Ripple (XRP) could replace the US central bank, the Federal Reserve (Fed) in the future.

How can Ripple achieve this?

Significant steps are needed to realize Ripple as a replacement for the US central bank. Ashley Prosper shared on X a 16-step plan to help Ripple achieve this goal.

The first step requires significant regulatory changes by the U.S. Congress to dismantle the Federal Reserve and create a single entity that can perform the functions of the central banking system.

Ripple must obtain approval from multiple regulatory bodies, including the U.S. Securities and Exchange Commission (SEC) and the Treasury Department. The company must demonstrate its ability to control monetary policy, including inflation and interest rates.

In addition, Ripple must develop and maintain a strong financial infrastructure that can handle large financial transactions and integrate with the U.S. banking system. Prosper also emphasizes the need for top-level cybersecurity measures and building trust among businesses and financial institutions.

Finally, Ripple must work with other central banks and international financial organizations, such as the IMF and the World Bank, to ensure global economic stability.

Latest Developments Ripple vs SEC Lawsuit

For now, the legal battle between the SEC and Ripple is putting significant pressure on XRP’s price. For Prosper to realize its plans, Ripple must first emerge successful from this lawsuit. We may get clarity on this soon, as the case is in its final stages. The SEC is seeking nearly $2 billion to settle the case, while Ripple offered $10 million, an offer that was rejected by the SEC.

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Source: https://newsbit.nl/hoe-ripple-xrp-de-amerikaanse-centrale-bank-zou-kunnen-vervangen/

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