Is $10,000 Possible For XRP? Crypto Pundit Shares Bold Predictions
August 27 2024 - 12:00PM
NEWSBTC
Crypto pundit and YouTube influencer Levi Rietveld has projected a
bold price target of $10,000 for XRP with his 117,000 followers.
His prediction is backed by major developments within Ripple’s
adoption and integration into Central Bank Digital Currencies
(CBDCs). Notably, the prediction is influenced by James Wallis,
Vice President of CBDCs at Ripple, who has been vocal about
Ripple’s ongoing global projects and pilots. In a video that gained
significant attention on social media, Levi outlined the potential
trajectory for XRP, emphasizing its use in extensive pilot projects
and private ledgers across multiple continents—excluding
Antarctica. According to Levi, these initiatives could catapult the
XRP price to “skyrocket past $10,000 per coin if it all falls into
place.” Is $10,000 Per XRP Possible? Levi is referencing interviews
with Wallis where he details Ripple’s approach for partnerships
with central banks worldwide. He explains that Ripple has been
developing private versions of the XRP Ledger (XRPL) tailored to
the specific needs of central banks that prioritize privacy and
security, leveraging the robust, open-source technology of the
public XRPL. Related Reading: XRP Set To Explode? Top Analyst
Predicts $33 Rally This strategy allows central banks to utilize a
blockchain platform without exposing sensitive transaction data.
“The XRP Ledger technology is proven; it has been processing
billions of transactions,” Wallis stated, underscoring the
reliability and scalability of the technology. Wallis’s unveiled a
strategic pivot towards creating a hybrid blockchain system that
combines the transparency and efficiency of public blockchains with
the privacy controls essential for central bank operations. This
bespoke approach has reportedly gained traction, with Ripple
working on more than ten active projects across various continents,
as Bitcoinist reported. Levi’s enthusiasm for XRP’s potential price
explosion is further fueled by recent regulatory developments. He
emphasizes significant victories for Ripple against the US
Securities and Exchange Commission (SEC). “Our recent wins from the
SEC prove that well these institutions are going to start being
able to use the XRPL how they see fit,” Levi commented. Related
Reading: Crypto Analyst Predicts 42,263% Breakout For XRP Price To
$280, Here’s The Roadmap The pundit linked these regulatory
advancements directly to potential massive adoption, implying that
as legal barriers diminish, financial institutions could integrate
XRPL more broadly and deeply into their operational frameworks.
This adoption would enhance transaction efficiencies and reduce
costs, making XRP more indispensable as a bridging currency in
international trade and finance. The anticipation of XRP’s
integration into mainstream financial operations has stirred
considerable excitement among the XRP army. The potential
application across CBDC projects could have a substantial impact on
the token’s price. An extensive adoption could significantly
increase demand for XRP, driving up its price. Levi’s projection of
XRP reaching $10,000 is predicated on the convergence of
technological adoption and regulatory acceptance, which could
“skyrocket” its value. However, it is important to note that even
in the community, the price target of $10,000 is more than
controversial. To reach this price, XRP would have to rise by a
whopping 1,700,000%. At press time, XRP traded at $0.50. Featured
image created with DALL.E, chart from TradingView.com
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