Check out the latest information in Spanish.
One cryptocurrency analyst boldly predicted: XRP price Could rise to $60 due to influx of demand Funds from institutional investors To leverage the market share and daily transaction volume of SWIFT, a global messaging solution for banking and payments.
Related books
XRP eyes $60 with SWIFT volume boost
Recent X (old Twitter) postLevi Rietveld proposed a unique scenario: XRP price may skyrocket was $60, marking an impressive increase of approximately 11,220% from its current value of $0.53. Rietveld started by pointing to a 2017 paper that laid out SWIFT’s daily payment process.
According to the paper, quickly It typically manages around $5 trillion in transactions every day, amounting to $1.25 trillion each year. Based on current market changes and growing network penetration, the analyst suggested that this number is likely to rise in 2024. The analyst revealed that SWIFT’s daily trading volume could rise to $7 trillion, equivalent to $1.8 trillion annually.
Analysts also noted that: SWIFT payment message Typically, the daily trading volume is around 11.5 million and the average payout is around $45,000. Additionally, it reveals that the average payout has now increased to $60,000 per trade, highlighting the staggering amount of fees it costs to execute just one trade.
Considering these numbers, Rietveld hypothesized that if XRP were to capture just 10% of SWIFT’s overall market share, the cryptocurrency’s price could rise “astronomically.” start more conservative estimateanalysts revealed that with a market share of 5%, or a trading volume of approximately $239.4 billion per day, XRP could see an increase of 1,252.5x. This corresponds to a 9,080.6% jump in XRP, whose value is New all-time high For $26.62.
Rietveld further estimated that with a 10% market share, the price of XRP could rise to $52, and with 20% trading volume on SWIFT, it could exceed $200. Analysts call on crypto investors to start doing the following: Accumulate XRPHe emphasized that his ambitious predictions for cryptocurrencies are not far-fetched. Advantages over SWIFT In terms of cost, speed and reliability.
Institutional introduction to further increase XRP price
While estimating the extent of XRP price soaring Rietveld also revealed that just a fraction of SWIFT’s trading volume can cause a significant increase in the price of cryptocurrencies. Rapid increase in recruitment from institutional investors. Analysts reveal that XRP market may experience significant changes supply shock When institutional investors start accumulating cryptocurrencies.
Related books
He revealed that over time, institutional investors will eventually need to purchase XRP from the public supply, as tokens locked in escrow will not be enough to meet demand. Given that the supply of XRP is already limited, Rietveld predicts that a potential supply shock will cause the price to rise significantly to around $200 over the next 10 years.
Featured images from Shutterstock, charts from TradingView
https://www.newsbtc.com/news/expert-dissects-60-forecast-for-xrp-price-institutional-investors-are-the-key/