Ripple's XRP Seoul Upgrades Fail to Boost Price Amid Market Cap Hurdle
Ripple's recent XRP Seoul event was expected to bring good news for XRP bulls, who hoped the coin would reach $100. However, despite the announcements of new privacy tools and AI wallets, XRP remained flat at around $1.50.
The conference unveiled two significant upgrades: confidential transfers using zero-knowledge proofs and encryption, and AI-powered agent wallets that can manage transactions autonomously without user approval. These features will allow banks to move client funds discreetly, while agents can handle payments for data or services without needing user consent.
However, the upgrades do not necessarily require XRP holders to hold the coin themselves. The confidential transfers feature allows banks to use private tokens and other assets on the network, using XRP only for minimal fees. Similarly, AI-powered wallets can hold stablecoins, meaning agents can transact using these stablecoins rather than XRP.
According to software engineer Vincent Van Code, XRP could reach $100 in three years 'once full confidence kicks in.' However, reaching this target would require a market cap of around $6.3 trillion, more than double Bitcoin's all-time peak.