a coin with such high volatility can never be used by private businesses as payment. we all understood a long time ago that the price is constantly being manipulated and as a rule, these manipulations are very sharp. you can’t pay for the car with XRP because tomorrow or in an hour it can cost 2-3 times cheaper.
It's really frustrating that the volatility of a coin is all it takes to make it unsuitable for payments. What is needed for a true decentralized cryptocurrency to be used like that is that it becomes almost stable, as in issuing some other coin as a collateral. I could talk about any altcoin being pegged to a collateral but since this thread's about XRP, someone could have an XRP balance with bitcoin as the collateral if the price of XRP ever drops, then the remainder can be taken from the BTC balance. and if it goes up beyond the expected balance, I take away the surplus XRP and put it in the collateral unspendable BTC balance.
The key is that the collateral cannot be spent, only the XRP (or any other altcoin). What do you think of this?