XRP Enthusiasts Celebrate Landmark XRPL Advancement, According to Crypto Expert John Deaton
Emily HarrisXRP community celebrates a major win as USDC officially launches on XRPL[...]
Ripple Advocate Applauds USDC's Arrival on XRP Ledger, Signaling Ecosystem Growth
A Clash of Crypto Giants: Ripple vs. Circle's Stablecoin Dominance Battle
John Deaton, a prominent Ripple advocate and founder of CryptoLaw, has praised the launch of USDC—the world's second-largest stablecoin—on the XRP Ledger (XRPL). This development has generated excitement across the crypto industry, enabling businesses and developers to mint and redeem USDC tokens seamlessly on the XRPL.
Deaton's optimistic stance follows an analysis suggesting that Circle, USDC's issuer, is challenging Ripple for stablecoin dominance on the XRPL. While this competition will test both companies' efficiency and infrastructure, Deaton views it as a win for the XRPL ecosystem and the broader XRP community.
Leveraging Ripple's Foothold in Global Payments
Industry observers speculate that Circle's decision to bring USDC to the XRPL is a strategic move to tap into Ripple's established global payments network and the XRPL's growing institutional adoption. By integrating with the high-performance XRPL, Circle aims to strengthen its market position.
Notably, reports indicate that Ripple previously attempted to acquire Circle for $5 billion, but the offer was declined as too low.
Boosting DeFi Exposure and TVL on the XRPL
The introduction of USDC is expected to enhance the XRPL's DeFi presence, potentially increasing its total value locked (TVL). A rising TVL often correlates with upward price momentum for the native token—in this case, XRP.
With USDC now live, the XRPL emerges as a formidable player in the stablecoin space, challenging Tether's USDT dominance. As Ripple and Circle compete, the XRP ecosystem stands to gain from heightened liquidity and adoption.
