The post XRP News: Ripple’s Secret Plan to Dominate $11 Trillion Remittance Market appeared first on Coinpedia Fintech News
XRP’s price could skyrocket to $5 if Ripple captures 50% of the global remittance market, a scenario now within sight. The XRP price action shows a bullish continuation pattern, indicating a potential 40% breakout in the near term. A combination of favorable factors, including the upcoming SEC appeal deadline and the recent 50 basis point rate cut, further strengthens the bullish outlook.
XRP’s flat performance and the $1 target seem far off, but don’t count it out yet—key moves could spark a new all-time high! Read on.
SEC Appeal Looms – A Key Moment for XRP
As of now, only 17 days remain before the SEC’s October 6 deadline to appeal the Ripple lawsuit settlement. Should the SEC choose not to appeal, it could pave the way for a significant price rally, with XRP potentially reaching as high as $5. This comes after Ripple was ordered to pay $125 million to the SEC, a sum they have held until the appeal period expires. If no appeal is filed, market confidence in XRP could soar.
Ripple’s Remittance Ambitions Could Send XRP to New Heights
Ripple’s XRP is uniquely designed for cross-border payments, making it a valuable asset in the global remittance market. According to Statista, this market is set to reach $11.53 trillion by 2024, with projections hitting $16.59 trillion by 2028. If Ripple manages to secure even 50% of this market, XRP could see unprecedented gains. With a total supply of 100 billion tokens and only 56.4 billion in circulation, XRP’s price could theoretically reach $283 under ideal conditions if supply remains controlled.
Speculation of XRP as a Reserve Asset
There’s growing speculation that XRP could become a reserve asset, similar to gold’s role for the U.S. dollar. Ripple’s CTO has hinted that XRP’s escrowed tokens could be ‘burned,’ further limiting supply and driving up prices. If such developments unfold, XRP’s potential valuation could rise astronomically, with some estimates pointing to a 48,900% increase from current prices.
Market Outlook – A Rally on the Horizon?
With the SEC appeal window narrowing and Ripple’s growing role in global remittances, XRP is on the brink of a major rally. A non-appeal by the SEC and increasing market confidence in Ripple’s ability to capture significant market share could push the token beyond its current resistance levels, making the $5 mark a realistic target in the coming months. The countdown is on, and traders are bracing for a potential game-changing move.
Also Check Out: Ripple News: How $1,000 Investment in XRP Could Skyrocket to $1 Million