A prominent figure in the XRP community has revealed how the XRP price can hit $10,000. In his view, this gigantic milestone will be attained through the utility XRP will provide to users globally. His view happens to be something similar to that of Ripple CEO Brad Garlinghouse.
How XRP Price Will Hit $10,000
In a post on his X (formerly Twitter) platform, Edward Farina suggested that the XRP price could attain such heights if RippleNet successfully replaces the current SWIFT system. He highlighted how financial institutions like SWIFT move “hundreds of trillions worldwide.” As such, he believes that XRP can surge to “unprecedented levels” if it can just capture a fraction of the market.
Ripple is seen as a potential disruptor in the financial world through its RippleNet technology. RippleNet, with the use of blockchain technology, allows financial institutions to process cross-border transactions instantaneously. These transactions are processed with XRP as the utility token, which helps bridge the gap between the sending currency and the receiving one.
Farina also highlighted the fact that XRP stands in a class of its own. He stated how XRP settles value in real-time and with finality. This is in comparison to Bitcoin and Ethereum, and even SWIFT, which he stated lack such capabilities.
So Much Hopes On XRP
Ripple’s CEO Brad Garlinghouse had once spoken about how XRP could become the next Bitcoin. His sentiment is similar to that of Farina, as he stated that this could happen with his company using the XRP token to solve a huge financial problem.
Basically, the belief in the XRP price potential seems to stem from the fact that so much liquidity could flow into the XRP ecosystem as more and more financial institutions continue to adopt RippleNet. These institutions are known to process a lot of low-value high-value transactions daily. Therefore, XRP could become a huge beneficiary depending on Ripple’s success.
In his post, Farina alluded to an interview that Garlinghouse had done with Bloomberg. The Ripple CEO seemed very optimistic about the future of Ripple as he stated that his company was making progress on a daily basis. He mentioned how they had onboarded over 100 banks some of them being SWIFT-enabled banks.
Many are betting big on the XRP price as Ripple continues to make such progress. pro-XRP Wall Street financial analyst Linda Jones had once mentioned how the crypto token could be the next big thing in the financial market. She went as far as likening XRP to Microsoft and Apple Stock, suggesting the high returns XRP holders could enjoy in the near future.
XRP trading at $0.61 | Source: XRPUSD on Tradingview.com
Featured image from Xcoins, chart from Tradingview.com
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Author: Scott Matherson