Jake Claver argues XRP's case for $10 rests on U.S. Treasury market mechanics rather than hype, tying a decades-old flaw in the dollar's reserve status to Ripple's stablecoin infrastructure. He says the gap between XRP's current $1.07 price and that target measures how early the infrastructure story is, not how speculative it is.
Jake Claver says XRP's path to $10 has nothing to do with hype and everything to do with a flaw in the global financial system that has gone unsolved since 1944.
A problem with reserve-currency status
Claver's starting point is the Triffin Dilemma: a national currency serving as the global reserve currency forces its issuer to run persistent trade deficits, gradually undermining the credibility that made the currency desirable. The United States has carried that contradiction for eight decades. Claver argues XRP removes the tension because it is a neutral, non-sovereign settlement asset that belongs to no country and settles transactions in seconds at negligible cost.
The yen carry trade as the trigger
The mechanism Claver is watching most closely is the Japanese yen carry trade. He says that when the trade unwinds at scale, Japanese investors sell U.S. Treasuries to repatriate yen, pushing yields higher exactly when the U.S. government can least afford rising borrowing costs. In his framework, stablecoin demand is the natural absorber of that Treasury supply, since the GENIUS Act requires stablecoins to hold U.S. Treasuries as reserves.
RLUSD's role inside the XRP Ledger
RLUSD, Ripple's regulated stablecoin, operates on XRP Ledger infrastructure, so every dollar issued adds demand for the ledger's settlement capacity, and every cross-border payment routed through Ripple's network uses XRP as the bridge asset between currencies. Claver frames the stablecoin market's growth into a systemic Treasury buyer as a bond market story rather than a crypto one, with Ripple building the infrastructure it runs on.
Market-cap math behind the $10 target
The $10 figure follows from market-cap arithmetic rather than sentiment: with approximately 60 billion tokens in circulation, XRP at $10 implies roughly $600 billion in market capitalization. XRP trades at $1.07 today, leaving a wide gap to that target. Ripple's acquisition strategy adds Hidden Road's prime brokerage infrastructure, GTreasury's corporate treasury management software and Rail's stablecoin payment rails, each routing more financial activity toward the ledger, in Claver's telling.
What Claver is tracking next
Timing is the variable Claver cannot control. He says the CLARITY Act, if passed before the August recess, removes the last major regulatory barrier for U.S. institutions building compliant products on XRP infrastructure. A yen carry trade unwind accelerating in Q3 would, in his view, turn stablecoin demand into a systemic priority rather than a niche conversation.
Rather than XRP's price chart, Claver tracks weekly stablecoin supply data, GENIUS Act implementation timelines, and how fast Ripple's acquired businesses route volume through the ledger. According to Claver: "The price follows the infrastructure," and he argues the build-out is further along than almost anyone outside the space realizes.
Source: Coinpedia Fintech News
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