As a seasoned analyst with over two decades of experience in finance and technology, I have seen my fair share of audacious predictions that ultimately fell flat. However, when it comes to Levi Rietveld’s bold call for XRP to reach $60, I find myself intrigued rather than dismissive.
As a crypto investor, I’ve come across an intriguing forecast: A respected analyst predicts that the price of XRP could potentially surge to $60. This anticipated rise is largely attributed to the increased demand and investment from institutional players. These investors are drawn in as XRP begins to penetrate the market share or daily volume of SWIFT, a globally recognized messaging solution for banking and payment systems.
XRP Eyes $60 With SWIFT’s Volume Boost
In a recent X (formerly Twitter) post, Levi Rietveld proposed a unique scenario where XRP’s price could potentially surge to $60, marking a staggering increase of approximately 11,220% from its current value of $0.53. Firstly, Rietveld referred to a 2017 paper indicating SWIFT’s daily payment processes.
As per the research, Swift usually processes approximately $5 trillion in transactions each day, amounting to around $1.25 quadrillion annually. Given recent market trends and increasing usage of the network, analysts predict that this figure could grow to over $7 trillion daily by 2024, which equates to around $1.8 quadrillion yearly.
The analyst additionally pointed out that SWIFT’s daily message volumes typically reach approximately 11.5 million, with a typical payment value of around $45,000. Furthermore, he disclosed that the current average payment value has risen to $60,000 per transaction, emphasizing the substantial fees associated with processing a single transaction.
Based on these numbers, Rietveld proposes that if XRP manages to capture even 10% of SWIFT’s current market share, it could experience a staggering price rise. Starting with a more modest projection, he points out that with a 5% market share, which translates to approximately $239.4 billion in daily volume, XRP could potentially see a mind-boggling increase of 1,252.5 times. This equates to an astounding 9,080.6% jump, taking its worth to unprecedented levels at around $26.62 per unit.
Rietveld predicts that if XRP captures a 10% market share, its value could reach $52, and potentially soar beyond $200 if it processes 20% of SWIFT’s transaction volume. This financial expert encourages crypto investors to start buying XRP, emphasizing that his optimistic forecasts for the cryptocurrency are not unrealistic, considering its potential benefits over SWIFT in terms of cost efficiency, speed, and dependability.
Institutional Adoption To Drive XRP Price Even Higher
When considering a slight proportion of SWIFT’s transaction volume and its potential impact on XRP prices, Rietveld hinted at a substantial price rise for this cryptocurrency. Moreover, he suggested that as institutional investment in XRP significantly increases, we might witness an enormous price escalation. The analyst further pointed out that the XRP market could experience a major supply shortage once institutional investors start amassing this digital currency.
It’s predicted that because institutional investors will eventually run out of XRP tokens locked away in escrow to satisfy demand, they will have to purchase XRP from the existing public supply. Given XRP’s already scarce quantity, financial analyst Rietveld anticipates this could lead to a significant surge in price, potentially reaching around $200 over the next ten years due to the potential supply shock.
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2024-10-13 01:16