Levi Rietveld, a well-known financial analyst and cryptocurrency expert, has projected a potential significant rise in XRP’s price, suggesting it could increase dramatically due to its possible integration with SWIFT, a leading global financial messaging network.
Rietveld’s analysis highlights that even a minor share of SWIFT’s transactions being transferred to XRP could result in an extraordinary price hike.
SWIFT’s Transaction Volume and XRP’s Potential Role
SWIF processes vast amounts of financial transactions daily. According to Rietveld, SWIFT manages around $7 trillion in daily transfers, which, based on an estimated 250 working days, results in approximately $1.8 quadrillion annually.
This volume, he explains, opens up significant opportunities for XRP if it were to capture even a small portion of SWIFT’s market share.
The financial analyst compared XRP’s potential role in SWIFT to its current state. He noted that XRP is seen as a more efficient option, offering faster and cheaper transactions than SWIFT’s current system.
Some SWIFT transactions can cost as much as $1,000, making XRP an attractive alternative in terms of cost and speed.
The prospect of businesses adopting XRP, particularly because it eliminates the need for companies to hold substantial reserves of different currencies, further underscores its potential use in international payments.
Mathematical Breakdown of XRP’s Price Potential
Rietveld’s analysis delves into the mathematical implications of XRP gaining traction in SWIFT’s market. He postulates that if XRP secures just 5% of SWIFT’s daily transaction volume, the results could be substantial.
$XRP WILL HIT $60 OVERNIGHT WITH THIS SWIFT NEWS! Here's The Math!! pic.twitter.com/lbQPeSVD3j
— Levi | Crypto Crusaders (@LeviRietveld) October 9, 2024
Based on SWIFT’s daily volume of $7 trillion, 5% equates to $350 billion. When comparing this figure to XRP’s current daily market volume of $1 billion, with its price hovering around $0.52, Rietveld suggests a possible 350-fold increase in trading volume.
He projects that such an increase in volume would push XRP’s price to approximately $50 per coin. This estimate is based on a proportional rise in price with the anticipated increase in market activity.
Though he acknowledges that these figures are speculative, the analysis demonstrates the significant potential XRP could have if it captures a fraction of SWIFT’s business.
Rietveld extended his projections to even more optimistic scenarios. For instance, should XRP capture 10% of SWIFT’s volume, he believes the price could climb to $100.
Furthermore, if XRP were to secure 20% of SWIFT’s global transactions, its value could surpass $200 per coin. While these numbers remain hypothetical, they emphasize the immense opportunities for XRP in the global payments landscape.
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Accumulation of XRP Ad Market Outlook
In light of this potential, Rietveld encourages investors to continue accumulating XRP. He predicts that institutional demand for the digital asset could soon increase, particularly as a large portion of XRP is held in escrow, limiting the circulating supply.
According to Rietveld, as institutions begin to acquire more XRP, the demand for the remaining available tokens will drive prices higher.
He emphasized that this supply shock, driven by the growing demand and limited availability, could cause XRP’s price to “catapult to levels never seen before.”
AdHe also suggested that XRP could reasonably reach $200 within the next decade, with a shorter-term projection of surpassing $10 within the next year.
This analysis suggests a future where XRP could play a significant role in the global financial ecosystem, particularly if it becomes a key player in SWIFT’s transaction network.
While these projections remain speculative, they provide a vision of XRP’s potential cross-border payments World.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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