Investors in Ripple Labs and its native coin, XRP, have been waiting for the digital asset to cross over to $1. Now, XRP could gross above $100 should Ripple Labs invest in a SWIFT-like platform to meet international trades.
What will it take for XRP to rally to $100
The daily chart formation indicates that XRP is showing a stable trend. Despite the ongoing trend, Ripple’s choice to cross-appeal the SEC’s decision in the United States temporarily boosted prices. The coin has returned to the trend established in early October.
Unless the market observes significant shifts in momentum, pushing XRP above $0.55 and the September highs, the prevailing downtrend is likely to persist. Currently, the coin is up 1.5% on CoinGecko, trading at $0.5399.
Advertisement
There are reports that Ripple, through XRP, could be in line for the next Spot ETF. Investors predict that an XRP ETF could push the coin’s price to $1.
Most recently, Ripple revealed it’s working on a suite of new features for Ripple Custody. Analysts expect that the XRP Ledger (XRPL) digital ledger technology (DLT) could attract a substantial portion of the traditional messaging system’s clientele, especially if it chooses to compete directly on a global level.
The advantages of XRPL for businesses operating on a global scale are significant and should not be overlooked. It operates significantly faster due to the absence of intermediaries, in contrast to SWIFT, which acts as a middleman between institutions.
Advertisement
Crypto analyst Levi Rietveld expects that XRP will shoot up to $60 overnight. Many feel that if any of these circumstances happen, the token might skyrocket to $100 in a short period of time.
