The post Why XRP Could Replace the Petrodollar? appeared first on Coinpedia Fintech News
The events unfolding in the Strait of Hormuz are not just a geopolitical story. According to analyst Mickle, they may be the moment the world learns it does not need the dollar to settle trade.
“What’s happening in the Strait is teaching all of these other countries how to transact in something other than the petrodollar,” Mickle said in a recent discussion. “If that starts to happen, we’re going to see more XRP, Ethereum and a handful of other tokens being used in some of these global settlements.”
Flight From Currency, Not Just the Dollar
The framework underpinning Mickle’s argument draws on Ray Dalio’s long-cycle economic theory, specifically the final stage of a reserve currency collapse where the flight is not from one currency to another but from currency itself.
For years, that final stage was assumed to involve the Chinese Yuan stepping into the dollar’s role.
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