In a recent interview with the crypto market analyst Zach Rector, Reaper Financial founder Patrick Riley revealed his thoughts about XRP’s future.
According to the Reaper Financial founder, XRP could attain a new all-time high (ATH) in the next bull season. He noted the new ATH to be in the range of $22.
XRP Ready For 1,500% vs BTC As Tether Partners With FBI & Secret Service!https://t.co/jRGRvwnRtw
— Zach Rector (@ZachRector7) December 17, 2023
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Riley Identifies What Could Orchestrate The Bull Run
Speaking about the XRP Ledger (XRPL), especially concerning how his team at Reaper seemed to have leveraged the ledger, he noted that the dependence on the XRPL would undoubtedly drive the XRP rally.
In addition, Riley mentioned the Ethereum Virtual Machine (EVM) sidechains’ introduction to Ripple, adding that it would be crucial in boosting the firm’s expansion.
Aside from the EVM sidechains’ introduction, Riley also spoke about the XLS-30 amendment, especially concerning plans to integrate Automated Market Makers (AMM) with XRP.
Per the Reaper Financial founder, the above incorporation has the potential of increasing XRPL tokens that were out of exchanges because of their volume. This would be significant in the long run, as it could aid the token’s appreciation in value.
For context, XLS-30 is the proposed amendment linking to the rippled 1.12.0 upgrade. On the other hand, AMMs are a special kind of decentralized exchange (DEX) that applies algorithmic “money robots” to facilitate buying and selling in the crypto sphere.
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Ethereum Network Not a Good Option
Riley noted the Ethereum network to be a less ideal option for crypto projects. According to him, the network has been identified to be slow and costly.
Describing the Ethereum network, the Reaper Financial Founder noted that it has become a “dying horse that’s been limping along for a long time.”
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Predicting what could become a probable consequence of the above claims about the Ethereum network, Riley noted that most crypto projects will look in the direction of XRPL, a cheaper and faster option.
More intriguingly, Reaper seemed to place so much faith in XRP, with claims that XRP has what it takes to outperform Bitcoin and become the most valuable cryptocurrency.
Meanwhile, XRP’s price at press time is approximately $0.61. It boasts a market cap of $33,088,122,169 and a trading volume of $1,468,492,312. A potential ascent to the projected $22 price level would imply a 3,506.6% increment. It is left to see how events unfold.
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