CandleFocus Expert Explains Why an XRP Price of $1,000 is Not a Fantasy
2024-09-28
Author: Content Editor
Crypto Tank, an XRP community figure, believes that XRP has the potential to reach $1,000 due to its utility in the global financial system. The current system used by SWIFT, a major cross-border transaction facilitator, faces challenges in terms of speed and cost. By integrating RippleNet and using XRP, the entire transaction process could be handled in seconds at a fraction of the cost. This cost-saving incentive for financial institutions could lead to a massive adoption of XRP. Additionally, if XRP were to capture even a fraction of the daily volumes of large financial institutions, its potential would be further strengthened. To facilitate smooth transactions, a deep liquidity pool is required, and if these pools have enough liquidity, they could support the settlement of large-scale transactions. The value of XRP is tied to the volume it supports on the ledger, and given the limited availability of XRP for liquidity pools, the circulating supply used for transactions could be much lower than reported. With more financial institutions adopting XRP, the price could potentially reach the discussed $1,000 mark.
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