A market analyst known as Amelie, also known as “Crypto Barbie,” has put forward a bold prediction that the price of XRP could surge to $1,000, citing JPMorgan’s movement of $10 trillion as a key factor.
Amelie’s assertion is part of the ongoing discussion within the XRP community that the digital asset is undervalued. Many members of the community believe that XRP is trading below its true worth.
The Significance of Adoption
This belief has led to various market analysts setting ambitious price targets for XRP, with the $1,000 mark frequently being mentioned. One such analyst, BarriC, has pointed to Bitcoin’s past performance as a reason to believe that XRP could experience a similar price increase.
On the other hand, Amelie has highlighted XRP’s potential to facilitate large-scale asset transfers across borders as a potential catalyst for a price surge to $1,000. She referenced JPMorgan CEO Jamie Dimon’s comments about the massive amount of funds the bank processes daily.
Dimon revealed that JPMorgan moves $10 trillion in cross-border settlements each day, highlighting the bank’s extensive adoption by various institutions and governments worldwide. This has led some members of the XRP community to speculate that the XRP Ledger could see similar transaction volumes if adoption continues to grow.
Increased Adoption Driving XRP’s Rise to $1,000
Greater adoption of the XRPL would increase the utility of XRP, the network’s native token. XRP is often referred to as the “banker’s coin” due to its potential to facilitate efficient money transfers as a bridge currency.
Interestingly, JPMorgan has recognized Ripple and XRP as entities capable of unlocking a significant amount of trapped cross-border payments, potentially reaching $120 billion. If this increased adoption materializes, XRP could see a surge in daily trading volume.
Based on this premise, XRP community member Mason Versluis, founder of the Gold Squad, has presented a scenario detailing XRP’s potential price if it processes trillions in daily cross-border payments.
Data from Versluis’ sheet suggests that XRP could reach $1,000 if it achieves a daily volume of $20 trillion for cross-border settlements with a liquidity pool supply of 20 billion tokens. However, it is important to note that these figures are speculative and may not be easily achievable.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The opinions expressed are those of the author and do not necessarily reflect The Crypto Basic’s views. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not liable for any financial losses.