Major Ripple News – Here’s Why XRP Price Could ‘Realistically” Hit $50

2024-8-19 23:30

Crypto analyst Zach Humphries has shared his perception of XRP’s trajectory in a YouTube video. He challenges overly optimistic price predictions, urging investors to focus on long-term potential instead of quick gains. 

Moreover, Humphries perceives an opportunity for XRP in the large cross-border payments sector, which is expected to be worth trillions in a decade. But he has also stressed that Ripple will take time before it can be adopted hence people holding XRP should exercise patience.

XRP Price Prediction

Humphries argued against too much optimistic price forecasts of XRP. Such claims like XRP getting to $50 or $30 within the present market cycle were dismissed by him. The analyst added that price hikes require massive changes in markets and widespread adoption of Ripple’s technology.

For Humphries, however, long-term crypto investing is a gamble. He noted that financial institutions and governments take a long time to adopt Ripple’s technology.

Cross-Border Payments

Humphries highlighted the potential of the cross-border payments market. He noted that this sector to reach around $200T and $300T in the next decade. The analyst suggested that XRP could play a significant role if it captures even a small portion of this market.

“People are theorizing that if XRP were to handle just 1% of the transactions in a $200 to $300 trillion market, its value could absolutely skyrocket,” Humphries noted. He emphasized that liquidity would be the key driver for XRP’s price growth in this scenario.

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Adoption Progress and Strategy

Ripple’s technology is gaining traction in various regions. Humphries mentioned adoption in Japan, parts of the Middle East, and Europe. However, he cautioned that widespread adoption is a slow process requiring patience from investors.

The analyst advised accumulating XRP when priced under $0.60. “XRP is 85% below its 2018 all-time high right now, but it could be a fantastic opportunity to get XRP under $0.60,” Humphries stated. This suggestion aligns with his long-term investment approach for the digital asset.

Humphries concluded by urging the XRP community to manage their expectations. He emphasized focusing on long-term potential rather than expecting quick gains. The analyst encouraged viewers to stay engaged and support the spread of realistic information about XRP’s prospects.

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