Altcoin
Analyst Predicts XRP Price To Reach $1,000 If This Happens
Financial commentator Patrick Bet-David says the XRP price can rise to $1,000 per token if manages to snag a portion of SWIFT’s transaction volume. Only 5% of SWIFT’s volume will see token prices soaring to $100 with Bet-David highlighting potential stumbling blocks.
XRP Price To Clinch $1,000 In The Near Future
According to Bet-David, XRP has a chance to reach the $1,000 mark after a lengthy period in the doldrums. To achieve the milestone, the financial commentator disclosed that XRP will have to match SWIFT’s transaction volume but even a slice will send prices rallying.
SWIFT, a global payments processing platform, processes $5 trillion daily or $1.24 quadrillion annually. Bet-David argues that the XRP price can reach $100 if the XRP Ledger can handle between 5%-10% of SWIFT’s daily volume. Per the analyst, the ledger will have to process $125 million annually to reach 10% of SWIFT’s transaction volume.
In order to reach $1,000 per token, the XRP Ledger has to fully match the entirety of SWIFT’s transaction volume. At the moment, the XRP Ledger only handles a fraction of the volume but rising institutional adoption sees it inch forward.
Stablecoins on the ledger like RLUSD are tipped to lead the charge to grab a portion of SWIFT’s daily transaction volumes. There is growing enthusiasm that XRP can be the cornerstone of US financial policy as it turns toward stablecoin adoption. For Bet-David, a jolt will come in the form of an SEC case dismissal, setting it up for borader institutional investment.
“Analysts estimate that a $10 trillion market cap could push XRP’s price to $100 per token, with full replacement potentially driving it to $1,000,” said Bet-David.
XRP Recovers After A Steep Price Crash
XRP price is trading at $2.20 climbing by an impressive 6% over a 24-hour period. The recovery follows a week marred by declining values and rising whale activity in the ecosystem.
Despiute the small rally over the day, XRP has lost over 10% in the last seven days, sparking fears that XRP has topped in this cycle. Despite the decline, the network has a streak of positives going on for it as a silver lining for investors.
XRP active addresses surged to 1.15 million in the middle of a steep market correction, signaling a market frenzy. In upbeat XRP news, Franklin Templeton has filed for an XRP ETF, accentuating a wave of positivity for the beleagured network.
In conservative fashion, market expert Dark Defender says XRP can hit $280 by 2027 if the 2017 bull run repeats itself.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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