Ripple’s Anticipated Outlook for 2024: Projections on XRP Sales, Stablecoins, IPOs, and Beyond
Ripple’s official Q1 report for 2024 was released yesterday, revealing significant strategic changes for the company. The Bearable Bull, a well-known crypto analyst and Udemy instructor, has analyzed the report and identified six potential plans for Ripple, which he shared in a recent post.
One of the major predictions made by the Bearable Bull is that Ripple is shifting its focus away from XRP sales as its primary source of income. Instead, the company is likely exploring alternative revenue streams, possibly through some form of settlement. This strategic shift not only has the potential to increase Ripple’s revenue, but it could also stabilize XRP prices by reducing the available supply in the market.
The Bearable Bull’s prediction is supported by Ripple’s Q1 2024 report, which highlights significant advancements in the XRP Ledger that are not reliant solely on XRP sales. For example, the introduction of XLS-30, a non-custodial automated market maker (AMM) on XRPL’s decentralized exchange (DEX), demonstrates Ripple’s commitment to improving the platform’s functionality and liquidity without relying on XRP sales.
Another plan identified by the Bearable Bull is Ripple’s expansion into custody services. The recent acquisitions of Metaco and Standard Custody indicate that Ripple is making a significant move into this area, potentially creating another income stream. Additionally, Ripple is strengthening the integration capabilities of XRPL through partnerships with Axelar and Zoniqx, which could enhance interoperability and facilitate real-world asset tokenization.
The launch of a new stablecoin is another highly speculated plan for Ripple. The Bearable Bull suggests that Ripple is developing a stablecoin that aligns with Europe’s MiCA regulations, presenting another potential income source. Compliance with MiCA regulations could position Ripple favorably in the market and enable it to compete with established stablecoins like Tether. The Q1 2024 report highlights a significant increase in on-chain transactions and the activation of new features, such as auto-bridging, which utilizes XRP for trades. These developments provide a strong foundation for the upcoming stablecoin and other new financial products.
The Bearable Bull also believes that Ripple’s stablecoin could potentially replace a portion of Tether’s market share, especially as US regulators intensify their scrutiny of Tether. Ripple’s efforts to increase XRPL’s liquidity and trading efficiency, as outlined in the Q1 report, combined with the synergy between AMMs and auto-bridging, create a solid foundation for the success of the new stablecoin.
To support the rise in XRP prices, Ripple is likely to minimize its XRP sales. The Bearable Bull explains that reducing the amount of XRP sold will allow for an increase in its price, aligning with Ripple’s long-term goal of supporting the growth of XRP’s value. The Q1 report emphasizes Ripple’s commitment to enhancing the XRPL ecosystem through technological advancements and integrations that increase the platform’s overall value, indirectly reducing the need for XRP sales.
Lastly, the Bearable Bull suggests that with the introduction of new income streams, Ripple will be in a stronger position to consider an initial public offering (IPO) in the future, when market conditions are favorable. An IPO would be a significant milestone for Ripple, enhancing its market presence and attractiveness to investors.
In summary, Ripple’s Q1 2024 report and analysis by the Bearable Bull indicate significant strategic shifts for the company. These include a pivot away from XRP sales, expansion into custody services, the launch of a new stablecoin, competition with Tether, minimizing XRP sales to support price growth, and potential positioning for an IPO in the future. These plans demonstrate Ripple’s commitment to innovation and long-term success in the cryptocurrency market.