The Ripple token (XRP), is currently one of the best cryptocurrency tokens available. This token’s ability to overcome major hurdles in price and reach its current level speaks volumes for the long-term approach and resilience of this coin. Ripple’s (XRP), despite the challenges that the previous regulatory regime placed on it, has become stronger than ever. Ripple has been able to achieve major dominance in the world of cross-border payments by implementing its unique service. What is it that prevents XRP tokens from reaching the $100 mark and above? We’ll find out.
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Aiming For The Stars: XRP
Ripple is often hailed as the most ambitious crypto token in today’s market. This token recently applied for a license as a financial institution, showing the firm’s dedication to changing the traditional financial system. XRP expands its device and is disrupting the traditional laws of finance that prioritize efficiency.
“Ripple is about to obtain a banking license. The successful application for a banking license will mark the further recognition and acceptance of Ripple in the traditional financial system. For XRP holders, this milestone event not only enhances the credibility of XRP but also provides greater space for token liquidity and expansion of usage scenarios. In the long run, it is expected to drive the steady growth of XRP prices,” Globe Newswire reported.
Ripple is also distinguished by its long list global collaborations.
“Ripple enables customers to move, manage, and tokenize value instantly, seamlessly, and cost-effectively—underpinned by security and compliance.”
XRP ETF development also adds a credibility boost to the coin. These XRP-based ETFs, once approved, have the potential to change the way investors view the token and increase its demand.
What is stopping the token from reaching $100?
Demand for XRP has been increasing. For the bullish, CoinCodex and other platforms with technical indicators predict that XRP will hit $7 in 2040. Price analysts at major firms have also predicted that by 2020, XRP would reach $50. This is because the token’s demand and use cases continue to increase.
Data from the past shows that XRP rose significantly when it was able to weather long crypto winters. Egrag Crypto shares that if history repeats itself, it could help XRP reach $50.
“B) 12 Months Consolidation: In another instance, a 12-month consolidation preceded an incredible 8000% spike. Should history mirror this scenario, #XRP might skyrocket to $50 from its current standing start on the 1st of November 2024.”
#XRPThe 3 Candle Form: A $10 Value or $50 in the Sky? 🚀
Understanding candle patterns can give you a deeper understanding of how price moves. #XRPHistorical data shows a very interesting trend. There have only been two instances of three consecutive Green Candles. Get ready—within the… pic.twitter.com/TcKVbR2pWo
— EGRAG CRYPTO (@egragcrypto) November 30, 2023
For XRP’s price to rise above $100. Flitpay This article discusses how the coin may require a massive market cap, and a high demand to reach such an extreme price.
This status may require the token to establish a strong global presence within cross-border payments. Ripple replacing the core financial standards will also help XRP reach a new $100 high.
“For XRP to hit $100, its market capitalization would need to reach $10 trillion. Surpassing the combined value of some of the largest global financial systems. This would require unprecedented adoption of XRP as the global standard for cross-border payments, replacing multiple existing financial technologies. Additionally, favorable outcomes in regulatory battles. Widespread institutional adoption, and global financial integration of XRP’s technology would need to align seamlessly. Furthermore, even with its strong utility and partnerships. Achieving this price would demand a huge fund inflow in the XRP market, which may take years.”
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Source: watcher.guru
