David Schwartz, Ripple’s chief technology officer emeritus and one of the original architects of XRPL, argues that growing adoption of the XRP Ledger could eventually increase demand for XRP and its price. He says XRP is the network’s only native, counterparty-free asset, is required to pay transaction fees and maintain account reserves. He rejects the idea that XRPL could succeed without creating substantial demand for XRP, even if Bitcoin became the dominant settlement asset. In that scenario, wrapped or bridged versions of Bitcoin would circulate on XRPL, and XRP would capture value by facilitating their transfer.
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