2023-12-6 00:00 |
A popular crypto pundit has examined a forecast by XRP enthusiast, Edward Farina, who predicted the XRP price could reach $10,000 if the Ripple network replaces SWIFT and takes full control of the cross-border payments system.
Analyst Cautions XRP Price ForecastCrypto analyst, the Modern Investor, has released a lengthy YouTube video presenting his views on a recent XRP price prediction made by Edward Farina, an XRP enthusiast and the CEO of Alpha Lions Academy.
Earlier in November, Farina predicted that the price of XRP could soar to $10,000 if the Ripple Network takes over SWIFT, a global messaging network used by banks. Farina’s forecast hinges on Ripple’s value as a global payments network that offers faster, inexpensive, and more scalable services than Bitcoin.
In the YouTube video, the Modern Investor expressed skepticism about the likelihood of XRP reaching $10,000 in a few years, suggesting that reaching the five-figure milestone would likely take two decades for the cryptocurrency. He further stressed his evaluation in an X post after a member asked him why he thought XRP could attain a price of $10,000 in “decades.”
“The supply. There are 100 billion XRP & 120 Million ETH. It will take decades for the XRP supply to burn low enough for it to be able to hit a 5 figure sum. It’s unrealistic to think that XRP would absorb 40 quadrillion dollars worth of the value of the M1,2,3 supply in only 10 years,” the Modern Investor stated.
Farina Asserts No Warning Signals From FEDIn a recent X post, Edward Farina cautioned the crypto community against expecting advance notice from the Federal Reserve (FED) regarding a potential transition to XRP Ledger for the digital dollar.
“Don’t think that the FED will warn you that they will run the digital dollar on XRP Ledger so that you have time to buy and get on the train. Neither the BIS nor IMF about any ongoing NDAs w/ Ripple. This news will be sudden. When the information comes out it will already be too late. And most of you still believe that XRP will top out at $10,” Farina stated.
Over the years, Farina has been a constant advocate for XRP, consistently highlighting the evolutionary changes Ripple could bring to the global financial system if the network is incorporated completely into banking systems.
The XRP enthusiast has stated that XRP far outperformed the SWIFT technology used by banks in terms of efficiency and speed. “SWIFT ISN’T FAST ENOUGH” SWIFT days are counted. XRP Ledger moves money faster and cheaper than archaic SWIFT,” Farina stated.
Farina also asserts a considerable bullish position for the XRP price if the Ripple Network becomes a substitute for the FED’s SWIFT. He revealed in a post that the crypto market was primarily dependent on supply and demand and XRP price could become 100x higher due to its growing value, utility, and support from veteran companies.
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