Cryptocurrency analyst Robert Doyle, also known on X as Crypto Sensei (@Crypt0Senseii), believes that the XRP Ledger (XRPL) has the potential to experience a significant price increase by 2025 through the tokenization of real-world assets (RWAs) on the platform.
Doyle highlights the tokenization of U.S. Treasury bills (T-Bills) on the XRPL as a potential catalyst for XRP’s growth. This initiative, led by OpenEden in collaboration with Ripple, aims to bring tokenized T-Bills to the XRPL with an initial investment of $10 million from Ripple.
Doyle argues that XRPL’s adoption of KYC (Know Your Customer) and AML (Anti-Money Laundering) practices positions it as a favorable home for RWA tokenization. These practices ensure regulatory compliance and security, which are crucial factors for major companies considering blockchain-based tokenization.
Current XRP Price and Market Conditions
Despite the potential benefits of T-Bills tokenization, the XRP price has not shown a significant upward trend since the announcement in early August. XRP reached a high of $0.64 following the recent ruling.
However, it has since fallen below the $0.60 mark. Doyle attributes this decline to the typical bearish trend observed in the cryptocurrency market during August. He cites historical data showing Bitcoin price drops in August 2022 (11.2%) and August 2023 (14%).
Doyle also acknowledges the ongoing geopolitical tensions between Iran and Israel as a major contributor to the broader market slump. Investor anxiety surrounding the potential for conflict has led to a flight from risk assets, including cryptocurrencies.
Will XRP Dominate the Cross-border Payment Market
Doyle emphasizes XRP’s potential to revolutionize the cross-border settlement landscape. He compares XRP with SWIFT, the current dominant system for cross-border payment, highlighting XRP’s advantages.
Unlike SWIFT which relies on pre-funded capital and has a slower settlement time (average of nine hours), XRP facilitates instant and guaranteed settlements without the risk of failed transactions.
While SWIFT currently enjoys wider adoption, Doyle believes XRP’s superior technology has the potential to attract greater use in the future. Experts see Ripple’s technology and XRP as a viable alternative for the BRICS bloc, which is looking to replace SWIFT and reduce their dependence on the U.S. Dollar.
Increased adoption could significantly boost XRP’s price. Doyle’s optimistic outlook suggests a possible price target of $10,000 for XRP, representing a substantial increase from its current price.
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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