A particular cryptocurrency analyst boldly predicted this XRP price may rise to $60, driven by influx of demand and capital from institutional investors as you leverage your market share or daily volume of SWIFT, the global messaging solution for banking and payments.

XRP trades at $60 thanks to SWIFT volume boost

In recent X (formerly Twitter) postLevi Rietveld proposed a unique scenario in which The price of XRP could potentially escalate to $60, a staggering escalate of approximately 11,220% from its current value of $0.53. First, Rietveld referred to a 2017 document that outlined SWIFT’s daily payment processes.

According to the newspaper, FAST typically manages approximately $5 trillion in daily transactions, rising to $1.25 trillion each year. Based on current market developments and wider network usage, the analyst suggested that this number is likely to escalate in 2024. He revealed that daily SWIFT transactions are likely to escalate to $7 trillion, equating to $1.8 trillion annually.

The analyst noticed this too SWIFT payment message volumes are typically around 11.5 million per day and the average payment size is around $45,000. Moreover, it reveals that the current average payment size has increased to $60,000 per transaction, highlighting the staggering amount of fees charged for completing just one transaction.

Taking these numbers into account, Rietveld hypothesized that if XRP manages to capture just 10% of SWIFT’s total market share, the cryptocurrency’s price could rise “astronomically.” Starting with something more conservative estimatesthe analyst revealed that with a 5% market share of approximately $239.4 billion per day, XRP could see a 1,252.5-fold escalate. This corresponds to a 9080.6% escalate in XRP, bringing its value to up-to-date all-time highs for $26.62.

Rietveld further estimated that with a 10% market share, the price of XRP could rise to $52 and even exceed $200 with 20% of SWIFT volume. The analyst urged cryptocurrency investors to get started accumulating XRPemphasizing that his ambitious predictions for the cryptocurrency are not far-fetched given its nature advantage over SWIFT in terms of cost, speed and reliability.

Institutional implementation to further escalate the price of XRP

Hypothesizing the range XRP price escalate with a petite percentage of SWIFT volume, Rietveld also revealed that the cryptocurrency could see a huge price escalate as adoption by institutional investors is growing rapidly. The analyst revealed that the XRP market may undergo significant changes supply shock when institutional investors start accumulating cryptocurrency.

He revealed that over time, institutional investors will eventually have to purchase XRP from the IPO as the tokens held in the escrow account will not be enough to meet demand. Given the already narrow supply of XRP, Rietveld predicts that the potential supply shock will trigger a massive price escalate to around $200 over the next 10 years.

Featured image from Shutterstock, chart from TradingView