The notion of XRP reaching $100 is still being propagated by several analysts and experts within the cryptocurrency space. Crypto Tank, a crypto researcher and enthusiast, recently raised the $100 conversation, positing that XRP can reach this target if it captures a portion of the daily transaction volume currently processed by SWIFT.
This projection aligns with statements from other community figures. Xena, a prominent analyst, recently noted a change in sentiment among XRP holders.
According to Xena, there is a growing belief among investors that XRP can reach the $100 target. He sees this as a major shift, as investors previously dismissed the idea of the digital asset reaching $10 before 2030.
Although many other analysts have set the $100 target, Crypto Tank dismissed their analysis, stating that most chartists in the community have zero clue. He supports the $100 target but believes XRP will achieve it differently.
SWIFT Comparison and Volume Analysis
As of June 2022, SWIFT reportedly processes approximately $5 trillion in daily transactions, facilitating 45 million messages through its network. The hypothesis presented by Crypto Tank suggests that if XRP were to handle 10% of this volume, it would equate to roughly $500 billion in daily transactions.
This figure is in stark contrast to XRP’s current average daily transaction volume of about $1 billion. To achieve the hypothetical milestone, the digital asset’s volume would need to increase by a factor of 500.
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Community Reactions
The XRP community has responded to these projections with enthusiasm and skepticism. While some agreed excitedly with Crypto Tank, other community members, like Scam Detective, have pointed out potential contradictions in the analysis.
Scam Detective noted that while Crypto Tank advised against relying on price predictions from chartists, his analysis and speculation on the token’s future prices contradict this advice somehow.
Another community member noted that while chart analysis provides only probability-based outlooks, it can offer increasing value as more data accumulates over time. However, he acknowledged that the limited historical data available for cryptocurrencies makes the probability of any accurate predictions based on chart analysis very low.
Additionally, other crypto experts have weighed in on the digital asset’s potential price after capturing a portion of SWIFT’s volume. One expert recently analyzed XRP’s price if it captures 10% of SWIFT’s volume, and believes it could hit four digits, far above Crypto Tank’s $100 prediction.
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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