A crypto founder recently gave his opinion on the future trajectory of the XRP price, and XRP holders will like this one as he predicts that the crypto token will hit $22. He also gave a timeline of when it will hit this price level.
When XRP Price Will Hit $22
In a YouTube interview with Zach Rector, Patrick Riley, the founder of Reaper Financial, mentioned that XRP will hit $22 at the peak of the next bull run. He further stated that the crypto token will hold above $10 in the next bear market after that bull run. The next bull run has been projected by many to occur in 2024, meaning that XRP could hit $22 next year.
Riley sounded so optimistic about the future of XRP. This isn’t surprising, considering that Reaper Financial is built on the XRP Ledger. The $22 price prediction isn’t the only bold assertion that the crypto founder made. He also foresees XRP surpassing Bitcoin at some point, although he didn’t give a particular timeline for that. When that happens, he believes that will see XRP materialize as the global reserve currency.
He alluded to the dollar failing and many possibly looking to cryptocurrencies for succor. There is a general belief that cryptocurrencies, especially Bitcoin, can act as a hedge against inflation. However, going by Riley’s prediction, XRP instead of Bitcoin will be the go-to token.
Talks about Inflation and the declining value of the US dollar have been discussed much of late. Renowned economist Peter Schiff recently warned that the fall of the US dollar was imminent and that the country’s economy is going to take a hard hit. Many believe that this could be a great avenue for cryptocurrencies to swoop in and save the day.
XRP falls below $0.6 | Source: XRPUSD on Tradingview.com
Making A Case For XRP
In a more recent video on his YouTube channel, Zach Rector made a case for XRP instead of Bitcoin as the future of finance. He hinted at how the transaction fees on the Bitcoin network affect its utility, as many are unable even to afford to transact on the network. Therefore, he believes that XRP is in a “better to change the world” and possibly the global financial structure.
Indeed, many believe that XRP is in a better position because of the transaction speed and fee of the network. The XRP ledger is said to be able to process 1,500 transactions per second and settle them in three to five seconds. Transaction cost on the network also stands at 0.00001 XRP, which is way below the average gas fee on the Bitcoin network.
At the time of writing, XRP is trading at around $0.6, down over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from YouTube, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.