Weiss Crypto, a branch of financial rating agency Weiss Crypto, has poured cold water on the surrounding the Ripple-affiliated XRP cryptocurrency.
According to the agency, "a favorable regulatory shift" does not suddenly create a strong use case for the token.
As reported by U.Today, the U.S. Securities and Exchange Commission has now acknowledged multiple XRP exchange-traded fund (ETF) proposals. This could potentially be a watershed moment for the token, which might enjoy broader institutional acceptance in the near future. The odds of an XRP ETF being greenlit in 2025 have now surged to nearly 80%.
However, Weiss Crypto has noted that the "limited utility" of the XRP token has been a "fundamental issue" for the token since its inception.
Earlier this Friday, Messari founder Ryan Selkis opined that Ripple might struggle to pull off a comeback since stablecoins have already won."
"Stablecoins won. The legislation will soon codify that victory in the U.S. XRP is drawing dead, as stablecoins grew two orders of magnitude during the SEC battles.
Separating winners from noise
Meanwhile, Galaxy CEO Mike Novogratz argues that narrative is precisely what "separates winners from noise" as the supply of cryptocurrency tokens keeps increasing at a dramatic pace.
That said, he has stressed that utility is "the next frontier."
"Every lasting ecosystem has a story people believe in. But belief alone won’t cut it forever—utility is the next frontier," the crypto mogul noted.
Alex Dovbnya
Dan Burgin
Vladislav Sopov