Bold predictions have emerged in the cryptocurrency markets, suggesting a potential 1300% rise in XRP's price based on increasing transaction volume and activity on the XRPL.
Surge in Transaction Volume on XRPL and Decline in SWIFT Use
Recently, there has been a noticeable revival in the XRP Ledger network. This activity indicates a strong increase in both the number of individuals and institutions using the network and the amounts being transferred. During the same period, a decline in transaction volumes on the SWIFT platform, which plays a fundamental role in the global financial system, has been observed.
Comparisons with 2017 and the Current Cycle
The expert notes that XRP experienced a similar rise in 2017. During that time, the vibrancy in the markets led to a collective increase in the value of cryptocurrencies. The current increase, however, is said to be supported by on-chain data. The rise in transactions carried out on the network and the number of participants leads to positive expectations about the price potential of XRP. An expert opined, "The current cycle could be stronger when compared to what happened in the past."
Real-World Application and the Role of On-Chain Data
The real-world usage areas of XRP and its network are continuously developing in various sectors. Companies and individuals increasingly prefer XRP for international payments and transfers. These applications increase the demand for XRP and the number of users on the network. On-chain data allows transparent tracking of transactions on the platform. Experts indicate that this data can be useful in assessing the potential of XRP.
The recent increase in activity on the XRP Ledger and the observed decline in volume on traditional financial infrastructures like SWIFT may indicate that digital assets have an expanding role in the financial system. The combination of on-chain data and real-world use cases may have significant impacts on the pricing of XRP.
