Expert Dissects $60 Forecast For XRP Price, Institutional Investors Are The Key
October 12 2024 - 6:00PM
NEWSBTC
A particular crypto analyst has boldly predicted that XRP price
could rise to $60, driven by the influx of demand and capital from
institutional investors as it taps into the market share or daily
volume of the SWIFT, a global messaging solution for banking and
payment. Related Reading: Helium (HNT) Falters 15% As Crypto
Market Tries To Bounce Back 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. According to the
paper, SWIFT typically manages about $5 trillion in daily
transactions, accumulating to $1.25 quadrillion every year. Based
on current market changes and more adoption of the network, the
analyst suggested that the figure will likely rise in 2024. He
disclosed that SWIFT’s daily transactions have possibly increased
to $7 trillion, equating to $1.8 quadrillion annually. The
analyst also noted that SWIFT’s payment message volumes are usually
about 11.5 million daily, with an average payment size of around
$45,000. Moreover, he reveals that the current average payment size
has increased to $60,000 per transaction, highlighting the
staggering amount of fees it takes to execute just one
transaction. Taking these figures into consideration,
Rietveld has hypothesized that if XRP can acquire just 10% of
SWIFT’s overall market share, the cryptocurrency could see an
“astronomical” increase in its price. Starting on a more
conservative estimate, the analyst revealed that with a 5% market
share which is about $239.4 billion in daily volume, XRP could see
a 1,252.5X increase. This is equivalent to a 9,080.6% surge in XRP,
pushing its value to new all time highs at $26.62. Rietveld
further estimated that with a 10% market share, XRP’s price could
rise to $52, and even surpass $200 with 20% of SWIFT’s volume. The
analyst has called on crypto investors to begin accumulating XRP,
stressing that his ambitious projections for the cryptocurrency are
not far-fetched, given its advantages over SWIFT in terms of cost,
speed, and reliability. Institutional Adoption To Drive XRP
Price Even Higher While hypothesizing the extent of XRP’s price
surge with a small percentage of SWIFT’s volume, Rietveld also
disclosed that the cryptocurrency could see a massive price
increase as adoption from institutional investors skyrockets. The
analyst disclosed that the XRP market may undergo a significant
supply shock when institutional investors begin accumulating the
cryptocurrency. Related Reading: Baby Doge Coin Rockets 200%
In 30 Days – What’s On The Horizon? He revealed that over time,
institutional investors will eventually need to buy XRP from the
public supply, as the tokens locked in escrow would not be
sufficient to meet demand. Considering XRP’s already limited
supply, Rietveld has projected that the potential supply shock
would trigger a massive price rally to about $200 in the next 10
years. Featured image from Shutterstock, chart from
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