As a seasoned analyst with over a decade of experience in the financial markets under my belt, I find Levi Rietveld’s analysis on XRP‘s potential surge to $60 intriguing, to say the least. His calculations based on SWIFT’s transaction volume and XRP’s advantages over traditional systems are compelling. However, it’s important to remember that such a dramatic price increase would be unprecedented even in the volatile world of cryptocurrencies.
Levi Rietveld, a well-known crypto expert who boasts 122,000 followers on his platform, has recently shared a video explaining that XRP might see a sudden increase in value up to $60 if it manages to seize a portion of SWIFT’s transaction volume. In a playful tone, he hinted via the platform, “XRP could skyrocket to $60 with this SWIFT development! Let me show you the numbers!
How XRP Could Skyrocket To $60 Overnight
In his examination, Rietveld dives deep into the workings of SWIFT, the worldwide financial messaging system responsible for processing a substantial chunk of global transactions. He points out that SWIFT manages around $7 trillion every day, which equates to roughly $1.5 quadrillion each year.
If XRP were to capture only a small portion of SWIFT’s market share (specifically 5%), it would see a staggering 1,252-fold increase in transaction volume. This significant boost could lead to over 9,000% growth for XRP, potentially driving its price up to approximately $50 per coin.
Rietveld predicts that if XRP manages to claim just 10% or 20% of SWIFT’s total transaction volume, its price could skyrocket to around $100 or potentially surge beyond $200 per coin, respectively. He underscores the staggering potential price increase for XRP by handling even a tiny fraction of SWIFT’s transactions.
As an analyst, I assert that the crypto asset, in this case, XRP, presents substantial benefits over conventional SWIFT transactions. It offers quicker settlement periods, reduced fees, and removes the necessity for banks to maintain extensive reserves across numerous currencies. In essence, it’s cheaper, swifter, more dependable, and less burdensome on businesses as they no longer have to keep vast reserves of every existing currency; instead, they only need to hold XRP.
Rietveld talks about the possibility of a shortage in supply if institutions start buying crypto assets like XRP. He notes that a significant amount of these tokens are held in escrow, and the demand from institutions might outstrip the existing publicly available supply. Translated, this means there won’t be enough XRP for all these institutional buyers, so they will have to purchase from the public supply—the XRP we and others own. Given the already limited supply of XRP, this could drive up the price dramatically, potentially reaching levels that have never been seen before.
In the future, Rietveld expresses a positive outlook regarding XRP‘s long-term value. He believes it’s quite plausible for the coin’s price to reach $200 within the next decade and he doesn’t think this prediction is far-fetched. However, he suggests that this significant increase may not occur until the next 10 years, rather than in the next five years. He is confident that XRP will surpass $10 within the upcoming year without any uncertainty.
$XRP WILL HIT $60 OVERNIGHT WITH THIS SWIFT NEWS! Here’s The Math!!
— Levi | Crypto Crusaders (@LeviRietveld) October 9, 2024
At press time, XRP traded at $0.5266.
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2024-10-10 18:04