Hi Guys,
It's Big & Big #alert About $XRP Price To $5 !!!
XRP Price Could Hit $5 If Ripple Captures 50% of Global Remittance Market
XRP price bullish trend is driven by a 50 basis point rate cut and the Grayscale XRP trust launch, with a crucial SEC appeal deadline on October 6.
The XRP price action depicts a beautiful bullish continuation pattern on the daily chart that promises a 40% breakout if market conditions remain favorable.
On September 18, the Federal Open Market Committee (FOMC) announced a 50 basis point cut on the interest rate, and XRP surged by 5%.
If Ripple successfully captures 50% of the global remittance market and the regulatory hurdles diminish, could the XRP price soar to $5?
Growing Remittance Market Could Moon XRP Price to $5
XRP is designed to facilitate fast and low-cost transactions across borders.
This is needed for the mammoth global remittance market, which, according to Statista, is projected to reach $11.53 trillion in 2024 and $16.59 trillion by 2028.
Digital remittances took the lion’s share of global digital payments, closely followed by digital commerce. Mobile POS payments came in last.
XRP has a total supply of 100 billion coins and only 56 billion in circulation. Taking on a $16 trillion industry with only 100 billion coins spells a $160 price tag for XRP. However, currently, there are only 56.4 billion in circulation.
Assuming they never release the escrowed tokens into circulation, the XRP price could rise to $283. In February, Ripple’s CTO detailed Ripple’s ability to effectively ‘burn’ the 40 billion locked XRP by ‘backholding’ the associated accounts.
If you define "burn the escrow" to mean "ensure that no XRP from the escrow can ever get into circulation", then Ripple could do that unilaterally by blackholing the account the escrow cancels into.