Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
In the wake of Ripple’s announcement regarding the integration of an Automated Market Maker (AMM) into the XRP Ledger (XRPL), the community has been abuzz with speculation and debate. Central to this discourse is the potential transformation of XRP in light of this update, particularly in regard to its classification and function as a digital asset. Ripple’s Chief Technology Officer, David Schwartz, previously hailed this update as the most significant for XRPL, raising expectations among stakeholders. Additionally, at the recent Swell conference, Ripple revealed plans to integrate its rebranded Ripple Payments product with the XRPL’s native decentralized exchange (DEX), further stirring discussions among community members. The community’s response has been a mix of euphoria and confusion. Digital Perspectives, a key community influencer with over 150,000 followers on X, expressed concerns over the potential implications of this update: “Are we watching XRP become a stablecoin with the introduction of AMMs and the Prudential Treatment requirements from the Bank of International Settlement [BIS]? Cat 1 vs Cat 2, where would you classify XRP?” Related Reading: New XRP Ledger Upgrade Goes Live, What\u2019s New? He further questioned, “When XLS-30D passes and AMMs become an integral part of the XRPL, will it change the characteristics of XRP and qualify as a group 1b asset for BIS and other banks?\u201d XRP Price Volatility Is Necessary Panos Mekras, the co-founder of crypto-focused company Anodos, quickly intervened to dispel the rumors and speculation about XRP morphing into a stablecoin to fit into the 1b asset class of the BIS with the advent of the AMM. Mekras, who has previously clashed with Digital Perspectives over misinformation, laid out a detailed refutation of the idea that XRP could become a stablecoin. He emphasized, \u201cThe fundamental nature of XRP as the native coin of the XRP Ledger, a decentralized digital asset traded freely, is unchangeable. It\u2019s technically impossible for XRP to transform into a stablecoin, a concept that completely contradicts its inherent design.\u201d Related Reading: Stunning Correlation Emerges Between XRP And XLM, What\u2019s Going On? He further delved into the dynamics of AMMs, noting that they are most effective in environments with high volatility. This volatility benefits liquidity providers (LPs) by attracting more traders and, consequently, increasing trading volume and fees. According to Mekras, the AMM is tailored to take advantage of such market conditions. Mekras also highlighted the potential impact of the AMM on XRP’s market dynamics. He suggested that the AMM’s implementation might lead to an increase in buying pressure on XRP. A significant portion of the token is expected to be locked in the AMM, which would enhance its liquidity and attract more traders. This, in turn, would make the crypto token more versatile and efficient for various use cases. In his concluding remarks, Mekras called for a more informed understanding within the community. He stressed the need to focus on the technical aspects of XRPL and the AMM, advising against following individuals who propagate misinformation. \u201cThe community should stop following and paying attention to enablers of misinformation such as Digital Perspectives and learn more about the technicals of the XRPL and the AMM,” Mekras said. At press time, the XRP price found support at the 0.382 Fibonacci retracement level in the 1-day chart and traded at $0.6333. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":560776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,4531,84758,13172,15883,90075,90076,10972],"class_list":["post-560775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-xrp","tag-xrp-ledger","tag-xrp-price","tag-xrp-price-analysis","tag-xrpl-amm","tag-xrpl-automated-market-maker","tag-xrpusd"],"acf":[],"yoast_head":"\n
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Through his extensive work with shenyangcang.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/www.shenyangcang.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Will Not Become A Stablecoin For Banks After AMM Launch: Expert","url":"http:\/\/www.shenyangcang.com\/news\/ripple\/xrp-not-bank-stablecoin-post-amm\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.shenyangcang.com\/news\/ripple\/xrp-not-bank-stablecoin-post-amm\/"},"thumbnailUrl":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2023\/11\/shutterstock_2095394119.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2023\/11\/shutterstock_2095394119.jpg?fit=2800%2C1502"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","xrp","xrp ledger","xrp price","xrp price analysis","xrpl amm","xrpl automated market maker","xrpusd"],"dateCreated":"2023-11-15T12:00:39Z","datePublished":"2023-11-15T12:00:39Z","dateModified":"2024-06-11T14:31:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Will Not Become A Stablecoin For Banks After AMM Launch: Expert\",\"url\":\"http:\\\/\\\/www.shenyangcang.com\\\/news\\\/ripple\\\/xrp-not-bank-stablecoin-post-amm\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.shenyangcang.com\\\/news\\\/ripple\\\/xrp-not-bank-stablecoin-post-amm\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_2095394119.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_2095394119.jpg?fit=2800%2C1502\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"xrp\",\"xrp ledger\",\"xrp price\",\"xrp price analysis\",\"xrpl amm\",\"xrpl automated market maker\",\"xrpusd\"],\"dateCreated\":\"2023-11-15T12:00:39Z\",\"datePublished\":\"2023-11-15T12:00:39Z\",\"dateModified\":\"2024-06-11T14:31:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2023\/11\/shutterstock_2095394119.jpg?fit=2800%2C1502","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/560775"}],"collection":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/comments?post=560775"}],"version-history":[{"count":0,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/560775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/media\/560776"}],"wp:attachment":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/media?parent=560775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/categories?post=560775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/tags?post=560775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"XRP](\"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2023\/11\/XRPUSD_2023-11-15_11-17-17.png?resize=3628%2C1673\")