Key Takeaways
- XRP’s use case as a solution for cross-border payment makes its technology widely adopted among financial institutions.
- The Ripple (XRP) US SEC lawsuit, which is coming to a settlement shortly, could open more upside price opportunities.
- Ripple’s (XRP) struggles to remain relevant despite nagging lawsuits have birthed a strong community believing in its potential.
Ripple (XRP) maximalist has held onto this crypto token for the past 3 years following its lawsuit case with the US SEC (Security and Exchange Commission), leading to the delisting of XRP from notable crypto exchanges as the price of XRP crashed towards a low of $0.35 coupled with a challenging bear market affecting its price.
Despite years of struggle for settlement, it proved abortive until late 2024, when the news of former SEC chairman Gary Gensler hinting at his resignation led to the rally of XRP towards a high of $0.6, creating one of the major hype and buzz in the crypto space. Its ecosystem leaped for joy as the price could break out for more upside potential.
Although Ripple (XRP) is struggling to trade above $0.7, a breakout from its three-year accumulation gave birth to an unimaginable price rally of over 400%, leading to institutions and governments becoming interested in XRP due to its diverse use case.
With the price of XRP gaining much recognition post-US election and Donald Trump’s pro-crypto administration favoring crypto assets, Ripple (XRP) is in a position to become one of the most traded assets, following in the footsteps of BTC and ETH, as banks and institutions become interested.
Why XRP Stands Out For Many Investors
Ripple (XRP) remains one of the best performers of 2024, following Solana, despite its nagging SEC lawsuit, which has prevented this crypto token from performing as it should. The XRP use case stands out for many institutions and small businesses, considering it has been designed to provide a solution to cross-border payment.
Many institutions and banks have struggled with cross-border payment for years, as this process takes time and can be challenging for many users. Institutions have welcomed the idea of leveraging blockchain technology, such as XRP, to facilitate payment with just a few clicks and ensure that all transactions are fast and cheap on the blockchain.
The launch of Ripple stablecoin (RLUSD) on the XRP ledger network and leveraging the Ethereum network for security has generated many transactions, which is another reason why many traders and investors are accumulating XRP, considering its huge potential in the coming years.
Can XRP Make Me A Millionaire?
With over $131B in market cap, many crypto experts still consider XRP undervalued, considering its potential and the digital assets’ tips to be included in the US strategic digital asset reserve. Many see the price of XRP trading above $20 to $100 in the coming years.
While the potential of XRP to reach such digits cannot be written off, this would require enormous adoption, which would be achieved if banks and other financial institutions adopted the use of XRP in all payment activities.
The potential for XRP to create millionaires is highly possible, but users are advised to do due diligence on the investment potential of crypto assets, considering their high volatility. Due diligence would enable users to avoid exposing themselves to excessive risk when investing in crypto.
FAQs
What Is The Main Goal Of XRP?
Ripple (XRP) has been designed to solve cross-border payments using the XRP Ledger blockchain technology.
Can XRP Reach 100 Dollars?
While this is possible, it can be achieved by the extreme adoption of XRP technology.
Why Would Anyone Buy XRP?
Because it solves real-world problems, gaining the attention of financial institutions
