XRPL’s Capability To Handle 293+ Million Transactions Daily Can Make XRP A Global Utility Asset

Regarding price, XRP still needs to meet the community’s expectations following Ripple’s partial win against the SEC. However, many enthusiasts remain optimistic about its growth potential.

Some crypto analysts and influencers have shared different views about XRP’s long-term growth potential. In an October 2 tweet, popular XRP influencer Alex Cobb shared data about the XRP Ledger’s (XRPL) capabilities that could propel it to greater heights. 

XRP Qualifies As A Global Utility Asset For Bank—Crypto Influencer Says

In his tweet, Cobb revealed that XRPL can handle 3,400 transactions per second (TPS); multiplying the figure by days, hours, and minutes to show how many transactions the blockchain can process in a day. 

Cobb wanted the crypto community to understand XRPL’s capability and how it can impact the XRP token’s prominence as a global payment facilitator. According to the influencer, XRP facilitates more than 293 million transactions daily. He concluded by multiplying the 3,400 TPS by 24 hours daily.

Furthermore, he did the same for minutes and hours. Cobb found that XRP can facilitate 204,000 transactions in one minute, a whopping 12.24 million transactions per hour.

In addition, the influencer noted that the massive figures underscore XRP’s relevance as a utility token for traditional financial institutions.

Cobb said:

XRP is truly designed to be a global utility asset for banks all around the world.

This statement highlights XRP’s prospects of becoming a choice asset for banks worldwide seeking to integrate blockchain technology.

Reacting to the tweet, an X user, tagged CryptoSkeeter, concurred with Cobb’s description of XRP. He likened XRP’s transaction speed to the famous marathon runner Usain Bolt.

CryptoSkeeter commented:

Well, if XRP was a marathon runner, it’d probably make Usain Bolt blush! That’s an impressive speed indeed. Has anyone checked if it’s wearing rocket boots?

Experts Opinions Contradicts Cobb’s XRPL TPS Claims

Meanwhile, Alex Cobb’s tweet attracted the attention of other crypto experts, some of whom disagreed with his opinion. Among them is Daniel Keller, a famous XRPL ambassador and CTO at Eminence.

Keller clarified the XRP transaction speed quoted by Cobb. He noted that the 3,400 TPS is only a theoretical figure obtainable under a controlled laboratory environment with perfect conditions.

According to the XRPL ambassador, XRP cannot handle 3,400 TPS in the real world, with several impediments. Notably, you can find the 3,400 TPS figure on XRP’s official web page on Ripple’s website. 

Meanwhile, other X users enquired from Keller about the realistic speed obtainable in practical XRP transactions. Based on available data and experience, Keller responded that XRP transaction speed ranges from 500 to 700 TPS in the real world. 

In a recent tweet, David Schwartz, Ripple CTO, confirmed Keller’s claim. Schwartz dismissed claims that XRPL can handle up to 1,500 TPS and could sustain about 300 to 500. Before, XRP’s development team had been advertising that XRP could handle 1,500 TPS.

Featured image from Pixabay and chart from TradingView.com