Ripple recently announced that they plan to develop a new stablecoin, aiming to join the multi-billion dollar digital currency industry. Stablecoins, such as Tether USD (USDT) and USD Coin (USDC), are currently enjoying great popularity.

According to financial analyst Rob Cunningham, the introduction of this new stablecoin may also affect the price of XRP.

The enormous potential of stablecoins

Ripple plans to become a significant player in the stablecoin market with the introduction of their new stablecoin. Currently, the largest stablecoins, USDT and USDC, dominate the market with a combined market value of almost $150 billion.

Ripple foresees significant growth in this sector, with the total market value expected to rise to $2.8 trillion by 2028.

This new stablecoin will be developed on the XRP Ledger (XRPL) network, which has the potential to significantly impact the value of XRP.

A jump to $12?

Financial researcher Rob Cunningham predicts that the launch of a stablecoin on the XRPL network has the potential to trigger a significant price increase for XRP. Cunningham estimates that the value of XRP could potentially reach $12 within four years, a tenfold increase from its current price.

This expected price increase is primarily driven by the need for users to turn to the XRPL network to use the new Ripple stablecoin. This is expected to lead to an increase in the use of XRP, which would put upward pressure on the price.

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