XRP May Be Bullish, But Gold Backing Is Not on the Table
- 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 …
Read The Full Article XRP May Be Bullish, But Gold Backing Is Not on the Table On Coin Edition.
Read More
“The XRP Army proved me wrong,” Galaxy Digital CEO Mike Novogratz Concedes
XRP Price Levels to Watch Today: $2.70 Support, $3 Resistance, Momentum Next
XRP May Be Bullish, But Gold Backing Is Not on the Table
- 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 …
Read The Full Article XRP May Be Bullish, But Gold Backing Is Not on the Table On Coin Edition.
Read More
“The XRP Army proved me wrong,” Galaxy Digital CEO Mike Novogratz Concedes