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XRP , the native token of the Ripple network, has had a strong following in the cryptocurrency community for years due to its immense growth potential. Despite persistent underperformance, many in the community believe growth is inevitable. At the same time, many analysts also share this view, as there are many optimistic forecasts with targets up to $200. Meanwhile, XRP/USD is up slightly on Tuesday to around $0.52.
Expert explains: Can and when XRP will reach $100?
One key factor that could help XRP reach higher prices is XRPL's ability to capture a portion of the global derivatives market, a sector valued at over $1 trillion.
The XRP Ledger (XRPL) is a decentralized public blockchain managed by a global community of developers. It is fast, energy efficient and reliable. With ease of development, low transaction costs, and a knowledgeable community, it provides developers with a solid open source foundation to tackle the most demanding projects without harming the environment.In August 2023, Ripple, the company behind XRP, joined the International Swaps and Derivatives Association (ISDA) . The move sparked speculation about Ripple's ambitions to enter the derivatives market, potentially using XRPL to settle trades. An increase in transaction volume on XRPL can benefit XRP significantly, as network activity directly correlates with demand for the token.
Quincy Jones, an industry expert and prominent developer of XDC, emphasizes the role of liquidity in determining the price of XRP. Instruments issued on XRPL, such as tokenized bonds or debt securities, will require XRP for transactions. This increased demand caused by the use of the network could push XRP to higher prices in the coming years.
Meanwhile, Wandell Aljarra, co-founder of Black Swan Capitalist, recently presented a thought-provoking scenario in a post on X. He suggested that if XRPL captures just 1% of the derivatives market, which translates to roughly $10 trillion, and all of that volume from using XRP, the price of each token can reach 100 USD.
Aljarra wrote: “A simple calculation. If 1% of $1 quadrillion ($10 trillion) flows through the XRP registry with $100 billion of XRP, each XRP token will be valued at $100.”
