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One cryptocurrency analyst has boldly predicted this Ripple price It could rise to $60, driven by order flow and Capital from institutional investors It benefits from the market share or daily volume of SWIFT, a global messaging solution for banking and payments.
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XRP Eyes $60 on Increased Volume from SWIFT
In the last X (formerly Twitter) mailLevi Rietveld proposed a unique scenario where The price of XRP will likely rise to $60, representing a staggering increase of about 11,220% from its current value of $0.53. First, Rietveld pointed to a 2017 paper reporting on SWIFT’s daily payments operations.
According to the paper, Swift It typically manages about $5 trillion in daily transactions, which accumulates to $1.25 quadrillion each year. Based on current market changes and further adoption of the network, the analyst suggested that the number will likely rise in 2024. He revealed that daily SWIFT transactions could potentially increase to $7 trillion, equivalent to $1.8 quadrillion annually.
The analyst also pointed this out SWIFT payment message Volumes are typically around 11.5 million per day, with an average payment size of around $45,000. Furthermore, it reveals that the current average payment size has risen to $60,000 per transaction, highlighting the staggering amount of fees it takes to execute just one transaction.
With these numbers in mind, Rietveld hypothesized that if XRP manages to capture just 10% of the total SWIFT market share, the cryptocurrency could see an “astronomical” increase in its price. Start more Conservative estimateThe analyst revealed that with a 5% market share equivalent to around $239.4 billion in daily volume, XRP could see a 1,252.5X increase. This equates to a 9,080.6% rise in XRP, pushing its value even higher New all-time highs Priced at $26.62.
Rietveld also estimated that with a 10% market share, the price of XRP could rise to $52, and even exceed $200 with 20% of SWIFT’s volume. The analyst called on cryptocurrency investors to get started Accumulation of XRPStressing that his ambitious predictions for the cryptocurrency are not far-fetched, given its size Advantages over SWIFT In terms of cost, speed and reliability.
Institutional adoption to push XRP prices to higher levels
While assuming the range XRP prices rise With a small percentage of SWIFT’s volume, Rietveld also revealed that the cryptocurrency could see a massive price increase with Adoption from institutional investors is rising dramatically. The analyst revealed that the XRP market may undergo a major phase Presentation shock When institutional investors start accumulating cryptocurrency.
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He revealed that over time, institutional investors will eventually need to purchase XRP from the public supply, because tokens locked in escrow will not be enough to meet demand. Given the already limited supply of XRP, Rietveld predicted that a potential supply shock would lead to a massive price surge to around $200 in the next 10 years.
Featured image from Shutterstock, chart from TradingView
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