JAKARTA - The potential for the price of XRP to reach 100 US dollars (Rp1.6 million) has become a hot topic among the crypto community, especially on social media X. This topic was sparked by crypto analyst Zain Haider on the X platform. He asked XRP fans to reveal the reasons why this digital asset could reach this psychological price.
"In your opinion, what makes XRP reach 100 US dollars? Is it because of partnerships, utility, or market demand?" Haider asked in his post. Among the various responses received, an analysis from experienced trader Jay Grissom caught attention with his in-depth explanation of the factors that could drive the price of XRP to that number.
Factors That Have the Potential to Boost the Price of XRP
Jay Grissom highlighted one of the main factors that could drive the price of XRP to the level of 100 US dollars is the trillions of dollars currently stored in Nostro/Vostro accounts. These accounts are usually used by banks to manage cross-border transactions. Grissom believes that if banks start using XRP as a liquidity solution, it could significantly increase the demand for XRP, which would ultimately drive its price up.
Furthermore, Grissom noted that the adoption of XRP by large corporations and financial institutions for international payments is increasing. He speculates that the use of XRP in such transactions will result in foreign exchange swaps (FX swaps), where XRP acts as an ideal instrument.
In addition, Grissom also highlighted the advantages of XRP in providing solutions for banks and financial institutions, ranging from treasury operations, account management, to liquidity and network security with low transaction costs. Ripple, the company behind XRP, has made it easy to integrate XRP into bank payment platforms, further strengthening XRP's appeal.
XRP is designed to enable peer-to-peer transactions between financial institutions, offering a more efficient solution than the traditional Nostro/Vostro system. The regulatory clarity surrounding XRP is also an attractive factor for banks and financial institutions, as it ensures compliance with applicable laws.
In his analysis, Grissom revealed that retail investors usually only provide a moderate price boost for XRP, often entering the market at price peaks. However, he believes that significant price increases will come from institutional investors.
Grissom also highlighted a scenario where hedge funds and pension funds invest in exchange-traded products (ETPs) backed by physical XRP, which he said would provide substantial support for the price of XRP.
According to Grissom, the combination of institutional investment, the shift away from the traditional banking system, and XRP's strategic advantages create a strong foundation for the potential for XRP's price to rise to US$100 (Rp1.6 million).
Currently, XRP is trading at around US$0.5712 (Rp9,139), with an increase of around 13% in the past year. To reach the $100 (Rp1.6 million) price target, XRP would need to experience a price surge of 17,407%. While some analysts are optimistic that this target can be achieved within a year, others project that it will take decades for XRP to reach that value.
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