By Michael Scott
Crypto commentator Levi Rietveld projects XRP overnight breakout for its potential role in the global payment network of SWIFT.
Financial analyst Rietveld considers that were the XRP to gain a portion of trillions of dollars that SWIFT witnesses in daily transactions. The volume shifting to the Ripple ecosystem could trigger a huge price uptick for XRP.
A recent X update by the analyst captures a mathematical breakdown detailing how the scenario will play out for XRP. Citing a 2017 publication indicating SWIFT oversees $5 trillion in daily transactions, translating to $1.25 quadrillion annually.
Nonetheless, Rietveld speculates that the present daily transaction averages $7 trillion. The figure translates to $1.8 quadrillion annually per 250 business days.
Rietveld acknowledges that the SWIFT fees incurred during transactions are astronomical since some skyrocket to $1,000. The context presents a ground for XRP to become the superior alternative in offering faster, more reliable, and cheaper transactions.
Ripple’s 350-Fold Surge in Market Volume
Rietveld’s analysis weighs the hypothetical scenario that XRP realizes 5% of the market share in SWIFT control. The 5% of the daily volume translates to $350 billion handled by Ripple.
The volume shift would lift the daily figure from $1 billion, with XRP up 1.7% to change hands at $0.54.
The speculative scenario by Rietveld, where XRP attains 5% of SWIFT’s global transactions, yields a 350-fold surge in the daily market volume. The analyst theorizes the scenario as likely to hit $50 per XRP coin.
The hypothetical scenario illustrates that XRP could witness a proportional rally in price corresponding to a market volume surge. Nonetheless, the optimistic projection is inherently flawed.
Rietveld posites that the XRP price could test $100 if it realizes 10% of the SWIFT’s volume. Additionally, he argues that the XRP price could surpass $200 if the volume is 20%.
While the above are speculative estimates, the financial commentator emphasizes that a small portion of transaction volume will trigger an enormous price for XRP.
Given its cost and speed, one cannot dismiss Ripple’s capability to capture at least 5% of the SWIFT business. Also, XRP eliminates the necessity for companies to retain substantial currency reserves.
Accumulate XRP as Upside Momentum Edges Closer
Rietveld urges the investors to accumulate XRP, projecting that a supply shock could emerge as institutions begin acquiring the token. The analyst holds that a substantial portion of XRP remains locked within the escrow. He adds that the public supply will witness colossal demand, fueling the price rally.
The financial analyst is optimistic that the shift in transaction volume will catapult the XRP price to set an all-time high (ATH). The analyst concludes that XRP could surpass $10 by 2025 and test $200 in the next decade.
Leading market observer considers XRP likely to realize an eight-fold gain with the crypto market turning bullish last week as Bitcoin hit $64,000. The renewed optimism has seen trader ‘Altcoin Moe’ revise forecasts for multiple assets.
The boom saw the global market value up by 2.1% to $2.37 trillion today. It implies the crypto market has witnessed over 450 billion inflow today.
The strengthening market sentiment informs Altcoin Moe to revise outlooks for XRP as illustrated in the recent X post. The trader considers Bitcoin will lead the charge to set ATH at $115,000, thus nearly a 80% surge in the premier crypto.
The altcoin king will witness commendable growth with the trader anticipating over 210% return and reach $8,000 during this bull run. Moe projects that while the targets are realistic for BTC and ETH, XRP could lead other altcoins into better future.
Moe notes the XRP’s realistic target is $5 during this bull season. The outlook translates to over 750% ROI from the present prices of $0.54.
A glance into the previous bull run shows Bitcoin attained cumulative 721% growth. The XRP replicated the growth trajectory with a 942% gain to encounter resistance shy of $2. The XRP enthusiasts attributed the SEC lawsuit for imposing shackles that scared potential investors. With the SEC appealing the lawsuit, the fear could curtail the XRP from realizing explosive growth witnessed in 2017.