XRP is also used as an investment asset by crypto enthusiasts. You can find the cryptocurrency listed on multiple crypto exchanges, such as Binance, Kraken, FTX, Bitstamp, and Bitfinex, where you can easily trade it against fiat and other crypto tokens.
Despite many challenges posed by adopting blockchain technology for international banking, XRP holds a strong position in this industry. There are many use cases for the blockchain, and it is used by many banks due to its operational benefits.
Typically, XRP is created to serve as a settlement layer facilitating the transactions with the Ripple network. It has been traded as a cryptocurrency and is available on several exchanges, including futures, options, swap exchanges, spot exchanges, custodian exchanges, and non-custodian exchanges.
Currently, there are over 200 banks, financial institutions, and payment platforms around the world that are backing XRP, including some of the largest banks in the world. These include Santander, American Express, SBI Holdings, UBS, MoneyGram, and more.
But we do believe that XRP can reach $10 or even $50. Of course, anything can happen in the crypto market, so this is by no means a guarantee.
'Many experts have been reluctant to make a Ripple price prediction higher than $500 a coin. However, this seems to have changed with usually-conservative experts now suggesting that XRP could reach up to $1,000 a coin in a few years”, Kaplan said in his article.
Will XRP be worth $1000 by 2030? Our Ripple price prediction estimates XRP could reach possible highs of $9 by the end of 2030. Based on its supply of 100 billion tokens, $1000 per XRP coin would put the market cap at 100 trillion.
It is impossible for XRP to ever overtake Bitcoin's rate. XRP would then have to increase 50,000 times while Bitcoin would stand still. The more coins available, the lower the value of one coin will be. Bitcoin has a limited supply – 21 million coins.
Santandar, Axis Bank and Yes Bank are a few using this network, demonstrating it already has larger institutional market adoption than most cryptocurrencies.
XRP is perfectly positioned to serve as a world reserve currency. It can be held in significant quantities to provide liquidity for foreign exchange reserves, international transactions and investments, and all other uses throughout a global economy.
XRP is Ripple's cryptocurrency token, which is used to transfer funds across borders at a low cost — trustlessly and instantly. Its primary use is to serve as a bridge currency to offer financial institutions a more cost-effective way to exchange both crypto and fiat currencies.
The XRP Ledger is decentralized, and its operations would not be affected even if Ripple lost the ongoing legal case against the SEC.
If you're looking for a low-cost way to begin investing in cryptocurrency, XRP might be a good option due to its growth potential.
Westpac, but also the Australia and New Zealand Banking Group and the Commonwealth Bank of Australia (CBA), are all three testing out payment technology from Ripple Labs.
It's pretty clear that XRP will never reach a price of $10,000, as the coin's market capitalization would be unrealistically larget at that price. The only way 1 XRP could be worth $10,000 would be through a massive coin burn program or a redenomination of XRP.
Cofounder and former CEO Chris Larsen, who stepped down in November 2016 and now serves as executive chairman of Ripple, has 5.19 billion XRP in his personal holdings and a 17% stake in the company, according to sources at Ripple. That gives him a net worth of $37.3 billion, using Monday's exchange rate.
Can Ripple (XRP) Hit $100 or $1000? It is unlikely for Ripple to hit $100, according to TU analysts. And it's even more unlikely for the token to reach $1,000. This is because for XRP to reach $1,000 per coin, its market cap would have to reach at least $100 trillion, which we're very unlikely to see any time soon.
This is because its total circulation is less than 100 billion, which means it would need to have a market cap of $100 trillion for XRP to hit a price of $1,000.
Our most recent Ripple price forecast indicates that its value will increase by 4.28% and reach $0.524939 by June 16, 2023.
According to Ripple's CEO Brad Garlinghouse, the verdict in the company's lawsuit against the SEC could be delayed until the end of the first quarter of 2023. In the event of a good outcome, the price of XRP might rise to as high as $50.
While XRP has been exhibiting a bullish trend, and a favorable outcome in the XRP vs. SEC lawsuit could provide additional upward momentum, it is highly unlikely that XRP will reach the $100 mark in 2023.
Most experts agree that Ripple's price can rise to the $250 range–$3 in ten years based on current predictions.
If you invest in Ripple today, as with any investment, a long term increase is expected. The price of XRP could possibly rise to $6.06 within the next 10 years.