The notion of XRP reaching $100 is still being propagated by several analysts and experts within the cryptocurrency space. Crypto Tank, a crypto researcher and enthusiast, recently raised this conversation by stating that this target could be achievable if the cryptocurrency captures a portion of the daily transaction volume processed by SWIFT.
Researchers' Assumptions
Crypto Tank, a crypto researcher and enthusiast, brought up the possibility of XRP reaching the $100 milestone. According to his view, this could be possible if the cryptocurrency captures a portion of the daily transaction volume that SWIFT currently processes. This projection aligns with other community figures' statements. Notably, analyst Xena recently mentioned a shift in sentiment among XRP holders, with growing belief that the cryptocurrency could reach $100.
Comparison with SWIFT Volume
As of June 2022, SWIFT reportedly processes approximately $5 trillion in daily transactions, facilitated through 45 million messages in its network. The hypothesis presented by Crypto Tank suggests that if XRP were to handle 10% of this volume, it would equate to roughly $500 billion in daily transactions. This figure starkly contrasts with XRP's current average daily transaction volume of about $1 billion. To achieve the hypothetical milestone, the digital asset's volume would need to increase by a factor of 500.
Community Reactions
The XRP community has responded to these projections with enthusiasm and skepticism. While some found Crypto Tank's idea exciting, others like Scam Detective pointed out potential contradictions in the analysis. Scam Detective noted that while Crypto Tank advised against relying on price predictions from chartists, his speculations on the token's future prices seem to contradict this advice. Other crypto experts also weighed in on the topic, with one analyst suggesting that XRP's price could even reach four digits if it captures a portion of SWIFT's volume.
Debates surrounding the prospect of XRP reaching the $100 mark remain ongoing. It is essential to note that any investment decisions should be based on thorough research and analysis.
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