Following Ripple’s admission into becoming a member of the International Swaps and Derivatives Association (ISDA), the U.S.-based crypto outlet appears set to attain even greater heights as the new association seemed to boost the coin’s relevance.
Worthy of mention is the fact that the association above also has immense positive benefits on the overall crypto sphere. Cryptocurrencies other than XRP seemed to be scoring higher adoption rates following the merger.
Read Also: Garlinghouse Says If He Understands XRP Price Dynamics, He Could Resign As Ripple CEO
Implications Of Joining The Derivatives Market
Ripple’s integration with the ISDA implies that XRP’s primary distributors would partake in the massive $1.2 quadrillion derivatives market, which places it in the league of global financial giants like J.P. Morgan and Goldman Sachs.
Notedly, the integration has led to the re-emergence of a previous price prediction by Britto, projecting XRP to a ridiculous $10,000 price high.
According to Britto, the over-ambitious price prediction stems from the fact that XRP was designed to meet the needs of 7.5 billion people across the globe.
Britto’s assertion has been grabbing crypto enthusiasts’ attention despite not being a recent claim. It is left to see how events unfold.
XRP Capturing 10% Of The Derivative Market
Per one of our previous reports that surfaced after Ripple’s successful partnership with the ISDA, DigPerspectives, a renowned XRP community influencer, took to his verified X handle to explain what would play out if XRP succeeds in gaining 10% off the derivative market.
According to the crypto influencer, the XRP market cap would spike to about 100 trillion. Further calculations revealed that the digital asset price might surge to roughly $1,896.23, which is also quite ridiculous.
Read Also: Top Analyst Michaël Van de Poppe Identifies XRP Price Entry Point for Next Rally
Google’s Bard Take On XRP Reaching $10,000
Bard, Google’s Artificial intelligence (AI) chatbot model, was consulted for its perspectives on XRP rivaling Bitcoin to attain a $10,000 price level. This was documented in one of our older reports.
According to the chatbot, the possibility of such happening is quite tricky, but that does not mean XRP lacks the potential to replicate such a tremendous price increment.
The AI model, however, highlighted some key challenges that XRP must overcome to become prime for any form of ambitious price surge. Among the impediments listed are fierce competition from other crypto projects, regulatory uncertainties, and adoption hurdles.
Meanwhile, at the time of writing, XRP is changing hands at approximately $0.62. It boasts a trading volume of $919,420,477 and a market cap of $33,229,082,141, according to CoinGecko.
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