27 August 2024
Crypto pundit and YouTube influencer Levi Rietveld has projected a bold price target of $10,000 for XRP with his 117,000 followers. His prediction is backed by major developments within Ripple’s adoption and integration into Central Bank Digital Currencies (CBDCs). Notably, the prediction is influenced by James Wallis, Vice President of CBDCs at Ripple, who has been vocal about Ripple’s ongoing global projects and pilots.
In a video that gained significant attention on social media, Levi outlined the potential trajectory for XRP, emphasizing its use in extensive pilot projects and private ledgers across multiple continents—excluding Antarctica. According to Levi, these initiatives could catapult the XRP price to “skyrocket past $10,000 per coin if it all falls into place.”
Is $10,000 Per XRP Possible?
Levi is referencing interviews with Wallis where he details Ripple’s approach for partnerships with central banks worldwide. He explains that Ripple has been developing private versions of the XRP Ledger (XRPL) tailored to the specific needs of central banks that prioritize privacy and security, leveraging the robust, open-source technology of the public XRPL.
This strategy allows central banks to utilize a blockchain platform without exposing sensitive transaction data. “The XRP Ledger technology is proven; it has been processing billions of transactions,” Wallis stated, underscoring the reliability and scalability of the technology.
Wallis’s unveiled a strategic pivot towards creating a hybrid blockchain system that combines the transparency and efficiency of public blockchains with the privacy controls essential for central bank operations. This bespoke approach has reportedly gained traction, with Ripple working on more than ten active projects across various continents, as Bitcoinist reported.
Levi’s enthusiasm for XRP’s potential price explosion is further fueled by recent regulatory developments. He emphasizes significant victories for Ripple against the US Securities and Exchange Commission (SEC). “Our recent wins from the SEC prove that well these institutions are going to start being able to use the XRPL how they see fit,” Levi commented.
The pundit linked these regulatory advancements directly to potential massive adoption, implying that as legal barriers diminish, financial institutions could integrate XRPL more broadly and deeply into their operational frameworks. This adoption would enhance transaction efficiencies and reduce costs, making XRP more indispensable as a bridging currency in international trade and finance.
The anticipation of XRP’s integration into mainstream financial operations has stirred considerable excitement among the XRP army. The potential application across CBDC projects could have a substantial impact on the token’s price. An extensive adoption could significantly increase demand for XRP, driving up its price.
Levi’s projection of XRP reaching $10,000 is predicated on the convergence of technological adoption and regulatory acceptance, which could “skyrocket” its value. However, it is important to note that even in the community, the price target of $10,000 is more than controversial. To reach this price, XRP would have to rise by a whopping 1,700,000%.
At press time, XRP traded at $0.50.