Brad Garlinghouse, CEO of Ripple, said that the value of XRP will increase significantly due to its use to solve the liquidity problem of the $27 trillion market. There seem to be signs that financial institutions and banks will have no choice but to rely heavily on XRP, causing its value to rise to very high levels, possibly as high as $482.22 per unit $XRP if this scenario materializes.
Additional analysis:
$27 trillion value: This is likely a global remittance market or proprietary assets that could benefit from XRP liquidity to improve the efficiency and speed of remittance processing.
Price increases and future expectations:
Current price high: $XRP is currently trading at around $2.32 after rising 5% on the day, with a high of $2.42 and a low of $1.90.
Analyst Forecast: Some analysts expect the XRP price to reach $6 by the end of December 2024 and $27 in January 2025 based on the “Bifrost Bridge” analysis based on Fibonacci retracement levels and historical price behavior similar to 2017.
Impact of large investor movements: Reports indicate that whale movements could push the price of XRP to $3, as the price has surged 16% to settle around $2.30 in the last 24 hours.
