$XRP #XRPBackInTop3 Analyst Predicts XRP Could Hit $8-$20 This Cycle – Could $100 Be Next?
The price of Ripple is surging for the third consecutive day and analysts are already anticipating that this could be the beginning of a second bullish move that could propel its price to new heights.
One crypto analyst in particular named Armando Pantoja has shared a thesis that sees the price moving to a range from $8 to $20 during this cycle as the network becomes the preferred choice for cross-border payments.
Currently, sending money from one country to the other is expensive via traditional financial institutions.
However, it can be done instantly with XRP. In addition, the launch of RLUSD – the new stablecoin issued by Ripple – opens up a new era for this blockchain as transaction costs via the ripple network is virtually zero.
Pantoja speculates that the Bitcoin network’s natural limitations – which have been acknowledged by notable crypto supporters like Elon Musk – may give Ripple the chance to take over as the most efficient and robust blockchain for peer-to-peer (P2P) digital payments.
$XRP So if Ripple were to substitute Bitcoin not as a store of value but as the ideal network for cross-border payments, its market cap could soon come close to where BTC’s is right now – which is $1.92 trillion.
By dividing that market cap by the circulating supply of Ripple ($XRP) (57.41 billion tokens) that would give us a forecasted price of $33.44 for XRP that would imply 14x gains for investors at the current price of $2.41 per token.
Some other tailwinds that favor Ripple’s progressive adoption as the preferred network for cross-border payments include its domicile.
Being a US-based entity increases the company’s credibility as it will be regulated by top-notch institutions.
In addition, Donald Trump’s victory in the November presidential election and the upcoming wave of pro-crypto legislators who will be taking a seat in Congress soon may result in the creation of comprehensive legislation for the sector shortly.
