XRP Price Could Hit $10,000 If It Overtakes SWIFT, Pundit Suggests
24 Noviembre 2023 - 8:00AM
NEWSBTC
Edward Farina, Head of Social Adoption at XRP Healthcare, recently
proposed a scenario where the price of XRP could potentially surge
to $10,000. His projection is based on the possibility of the token
as a bridge currency and RippleNet replacing SWIFT (Society for
Worldwide Interbank Financial Telecommunication) in the global
cross-border payment systems. Could XRP Price Reach $10,000?
Farina’s commentary dives into the principles of market dynamics.
He argues against common misconceptions about the cryptocurrency’s
potential growth. “Few people seem to understand the principle of
supply and demand. I always see people being shocked when they see
someone saying that XRP can reach $10k. (Not saying it necessarily
will.),” Farina remarked. Related Reading: Pro-XRP Lawyer Deaton
Picks His Top 10 Cryptos For The Year Ahead He emphasizes that the
global financial sector’s movement of hundreds of trillions of
dollars annually means even a small market share could lead to a
significant surge in its valuation. Farina also elaborates on the
current capabilities of the SWIFT system, handling billions of
transactions per hour, and the impact of RippleNet potentially
replacing it. “The problem with the way most people view XRP’s
potential to grow exponentially, is that they think it can’t reach
that high of a market cap. They’re failing to realize that
Financial Institutions move hundreds of trillions worldwide. If XRP
captures a tiny fraction of that, it will catapult XRP to
unprecedented levels,” he explains. This highlights the vast,
untapped market that XRP could penetrate. However, Farina does not
provide exact figures, nor does he explain how much capital would
have to flow into the cryptocurrency to reach the price of $10,000.
Related Reading: XRP On The Verge Of A Surge: Analyst Pinpoints
Next Bullish Targets Besides that, Farina underscores XRP’s
supposed technological superiority, particularly in terms of
transaction speed and finality. “XRP settles value in real time (an
average of 3 seconds) and with finality. BTC cannot do that,
neither ETH nor SWIFT. Period,” he asserts, making a case for the
tokens’ efficiency and reliability over existing systems. Can
Ripple Replace SWIFT? The discussion about whether XRP can reach a
four- or five-digit price if Ripple replaces SWIFT or only a part
of it is almost as old as the token itself. It was only recently
that influencer Crypto Eri unearthed a five-year-old statement from
Ripple CTO David Schwartz. Schwartz outlined the positive
correlation between an asset’s price and its liquidity. “Higher
prices tend to correlate with higher liquidity, which means cheaper
payments,” he noted, explaining that as the tokens’ value
increases, it becomes a more viable medium for large-scale
financial transfers. This ties back to Farina’s vision of the
cryptocurrency disrupting the current financial systems. Grayscale
has also recently confirmed XRP’s potential to compete with SWIFT.
In its latest “Currencies Crypto Sector” report, the company
writes, “Beyond Bitcoin, XRP is the second largest asset. Designed
as an alternative to SWIFT, XRP aims to offer fast cross-border
payments at lower transaction costs than competitors.” At press
time, XRP traded at $0.6208. Featured image from Shutterstock/
FinanzBusiness, chart from TradingView.com
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