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The lead developer of XRP Ledger and Xumm Wallet, Witse Wind, answered a question from his subscriber and revealed theoretical scenarios in which XRP can become a stablecoin. In the manner of Michael Saylor or Changpeng Zhao, Wind stated that 1 XRP is equal to 1 XRP.
The developer said that, theoretically, he can assume two scenarios, both of which are quite impossible in themselves. The first assumes that all centralized and decentralized crypto platforms will sell XRP only for a certain amount of fiat. Wind rejected this on the grounds that there are too many crypto platforms.
I believe the only hypothetical way would be if stores and people started setting prices for goods and services at a fixed XRP value, which would only work if their suppliers, employees, all do the same. It will never happen.
— WietseWind — 🛠 XUMM @ XRPL Labs (@WietseWind) December 29, 2022
The second scenario sounds even more futuristic, as it assumes that businesses and people will start valuing goods and services at a fixed cost in XRP. It is obvious that such a development of events will require a global consensus, which is unlikely to ever happen.
Nevertheless, the main thesis of the developer that 1 XRP is equal to 1 XRP has a basis. For example, Wind claims that XRP begins to have a value in dollar or currency equivalent only when it comes into contact with the world outside the XRPL network, where the cryptocurrency initially "lives".
The equivalent price of XRP is indicated in dollars or something else that is determined by supply and demand, and since the price that people offer is unstable, the same is with XRP, the developer summed up.
"XRP lives on its own network. There can be no price in the protocol on the network, because: price against what? The price of XRP consists of interaction with the world on the web: supply and demand. And since the price that people offer is never stable, XRP can't be like that either."
Or maybe it's not so crazy? When the dollar loses its status as a world currency, and we will buy everything for XRP.
