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

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Ripple XRP
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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.

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Altcoins

TokenPay (TPAY), Litecoin, and Verge (XVG) alliance about to transpire

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TokenPay Litecoin Verge
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Ever since the cryptocurrency sphere was met with the news of the partnership between Litecoin Foundation, TokenPay, and Verge (XVG), the idea of them coming together has been among the most controversial news to ever surface in the cryptocurrency world.

The collaboration managed to even draw the attention of one of the most renowned crypto-influencer and bitcoin campaigner, Tone Vays. In his usual style, Tone took to Twitter handle on hearing the news, tweeting and expressing his disapproval while criticizing the creators of the three cryptocurrencies for allowing such a move to occur.

In retaliation to the attacks from Tone, Charlie Lee, the MD, and founder of Litecoin (LTC) posted his clarification on Reddit on the 17th July in regards to the partnership. Litecoin’s CEO started by explaining the dissimilarities between Litecoin as a currency and Litecoin as a company.

In his remarks, he said that Litecoin as a blockchain and crypto network is a decentralized network, whereas Litecoin Foundation as a company is a centralized non-profit institution whose goal is to ensure Litecoin (LTC) is developed, adopted, and used. Charlie also mentioned that Litecoin’s cryptocurrency and blockchain technologies did not require his direct services at the moment hence his concentration on Litecoin Foundation.

Charlie Lee made his remarks known saying:

“If Litecoin Foundation (LF) is exposed to not doing a good job, nothing should prevent another organisation to step in and do a better job. This is…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS
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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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Altcoins

4 Things That Will Make An Altcoin Successful

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Since the crypto craze began, there have been hundreds of altcoins that have emerged and attempted to take over the world of crypto with their advanced and innovative ideas. While these days there are well over 2,000 individual coins, there have been many more to emerge and disappear, all within the last 10 years.

Clearly, having an idea and launching the coin itself is not enough. While it is by no means easy to do so, there are additional measures and rules that you, as an altcoin creator, need to consider if you want your coin to remain relevant. Clearly, not every idea can succeed, and after 10 years, it is quite difficult to present something new. However, cryptos are still a new technology, which is why there are still many unexplored possibilities that may allow you to reach success.

Secrets to altcoin success

1. Capturing the attention

As mentioned earlier, there is not a lot of things that are simple when it comes to creating altcoins. However, while your plan and idea make sense to you, no matter how complex they end up being, this will not be the case with potential investors. Many of them might give up on getting involved if they do not understand what the coin is all about, or if the road ahead seems too complicated and unclear.

This is why having an idea is not enough. What you need to…

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