XRP May Be Bullish, But Gold Backing Is Not on the Table
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- XRP is a utility token; no mechanism exists to peg it to gold.
- Gold-backed tokens exist, but they issue separate tokens, not transform XRP.
- XRP can bridge gold tokens on XRPL without itself being backed by bullion.
A former Ripple employee, Matt Hamilton, weighed in as to why XRP cannot be backed by gold.
He pushed back on a community post aiming for jaw-dropping XRP price targets; some had speculated XRP to hit $2,953 in early 2026 if it were gold-pegged. Hamilton’s response triggered a broader debate on a bullish potential there is, but claims of gold backing to be unrealistic.
Related: SEC to Decide on 16 Altcoin Spot ETFs in October: XRP, Solana, Litecoin on the Line
The Gold-Backing Theory and Why It Fails
The idea behind XRP being backed with gold is simple …
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Coins
$ 0.0772
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Top 3 Crypto Price Predictions Today: Bitcoin, Ethereum, and XRP
