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.
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