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XRP could skyrocket above $50 if Ripple gets 10% of SWIFT’s business

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Ripple XRP

As we all know, Ripple is a blockchain protocol that aims to solve real-life problems such as enhancing cross-border payments. Nevertheless, we also know that SWIFT is handling the world’s remittance payments. SWIFT has about 200+ countries registered on its network. Given that, Ripple is now seen as the biggest competitor to SWIFT at the moment since it provides a faster and cheaper means for cross-border because of its blockchain technology.

Ripple’s powerful technology is now being adopted by banks and other FinTech companies in the world today. Subsequently, there is a striking point that emphasizes that if Ripple could get 5-10% of SWIFT’s business, its price could skyrocket overnight. In this article, we will make a critical analysis of the price mark of Ripple’s XRP, if it attains certain percentages of SWIFT’s business.

Detailed Analysis

The market price of Ripple’s cryptocurrency, XRP, is about 26 cents and the last 24 hours volume is 192 million. On the other hand, SWIFT’s annual volume is about $1.25 quadrillion – that’s about $4 trillion per day. However, if Ripple (XRP) can manage to increase its volume and attain a volume per day the same as SWIFT, we should see a ‘big boom’ in its price.

Nonetheless, from Ripple’s historical data – its highs and lows, Ripple’s XRP average price fluctuation and daily volume within five years is about 7.25% and 191 dollars. If Ripple becomes mainstream and gets just 1% percentage of SWIFT’s business (using SWIFT’s daily volume of about $4 trillion), Ripple’s daily volume would be $47,892,720,306.57, and its price tag would be about $5.57/XRP – this price has the probability to go up if there is a high demand for Ripple.

Also, if Ripple gets 10% of SWIFT’s business, Ripple’s daily volume would be $478, 927,203,065.13 or somewhere near the figure, thus, making the price of XRP to stand at $50 or more.

Furthermore, suppose Ripple if gets a 100% of SWIFT’s business (you never know, emails have replaced posts by almost 100% now, Ripple somewhat is the what email was to post when it started), there will be 25,000 times increase in the volume of XRP. The price of XRP would be $526.96.

These results seem astronomical, but they can be attainable. Ripple can become the only cross-border solution in the world. Moreover, Ripple’s team is doing all it can to improve its technology,  and to offer a better solution for cross-border payments all around the world.

Final Words

Ripple continues to work hand-in-hand with lots of FinTech companies today; not only that, but it is also making its token (XRP) to be at the top of the market.

XRP stands at the price mark of 26.7 cents at the time of writing, but there is a high possibility that its price will increase soon, given the fact that it has become the best choice for banks and other financial institutions. Once the world’s financial sector recognizes Ripple for its global remittances, its token (XRP) price may surge to $50 or more.

XRP has become the third largest cryptocurrency in the crypto sphere today and we shouldn’t be surprised if it becomes the next big digital asset in the market. But as things stand now, all this is nothing more than ‘an imaginary’ calculation.

For such good things to happen, Ripple needs to mark an incredible leap in the global adoption. But, as Swift system is not scalable enough with the modern-day volumes and speeds, there is a good room for Ripple blockchain technology to snatch a good portion of its when it comes to cross-border payments worldwide.

There are almost 8000 banks all around the world, just imagine if only 1000 of them switch to Ripple from Swift, what would be the price of Ripple’s XRP then? Yes, $50 per token might not be the price then, but it will be far more than what it’s now.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by SpaceX on Unsplash

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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