THE XRP Price Has Struggled Over the Past Three Yearsremaining bearish even as Bitcoin and other altcoins reached potential new highs. However, even so, the XRP community has remained steadfast in its belief that the altcoin’s price will reach new highs. Predictions range from reaching $1 to $1,000. The latter has been hotly debated among crypto investors. However, a crypto researcher believes that the price of XRP could eventually reach $1,000, giving reasons why this could happen.
Mastering global banking systems
THE XRP token point of sale has always been the fact that it is integrated into global banking systems, allowing for cheaper, faster and smoother transactions. Expectations for the token’s use in the banking sector were the initial reason behind its meteoric rise, and this has continued to fuel belief in its future.
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Cryptography researcher CryptoTank used X (formerly Twitter) to reiterate the value proposition of this for the XRP Price, alluding to this utility. The researcher points out that SWIFT is already integrating RippleNet into its systems, and given SWIFT’s volume, this could mean a lot of inflow for the token.
They point out that SWIFT currently earns between US$5 and US$7 trillion in daily volume, even with high fees of US$20 to US$50 per transaction. However, compared to this, using RippleNet would reduce fees to cents, allowing the payment platform to save hundreds of billions of dollars annually. Furthermore, the researcher explains that even if Ripple only got 10% of SWITF’s trading volume, that would mean at least a substantial $500 billion passing through RippleNet daily.
At this rate, the bass XRP Price it would not be suitable for handling SWIFT volume alone. Therefore, the researcher believes that the The price of XRP would rise to be able to compensate for this new volume. “XRP needs to be very high to move just 10% of Swift’s daily volume,” said the researcher. “When you start adding other banks, it gets crazy how high XRP will go.”
XRP Price to $1,000 Debate
The recent debate surrounding XRP price reaching $1,000 started with crypto exchange Uphold asking the community what they would do if XRP price reached $1,000. That generated speculation on whether the altcoin can actually reach that price or not, generating information from multiple angles.
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However, the network investigator TruthLabs debunked this possibilityciting how much the market value would have to grow to reach this goal. According to the investigator, the market value of XRP would have to reach US$100 trillion, which
Featured image created with Dall.E, chart from Tradingview.com
ch is 50x the current market cap of the entire crypto market.
Featured image created with Dall.E, chart from Tradingview.com
