XRP Could Surge To $60 Overnight Using SWIFT Model: Expert

Levi Rietveld, a popular crypto analyst with 122,000 followers on “XRP will reach $60 overnight with this SWIFT news! Here’s the math!!” he teased through X.

How XRP Can Soar to $60 Overnight

In his analysis, Rietveld delves into the operation of SWIFT, the global financial messaging network that processes a significant portion of international payments. He highlights that SWIFT processes approximately $7 trillion per day, which equates to approximately $1.5 trillion per year.

“If XRP took just 5% of SWIFT’s revenue, this would enable 1,252x volume growth for XRP compared to what we see now,” Rietveld explains. “This could translate into an increase of over 9,000% for XRP, potentially pushing the price to around $50 per coin.”

Related reading

Rietveld further extrapolates that if the cryptocurrency were to capture 10% or 20% of SWIFT’s volume, the price of the cryptocurrency could rise to $100 or even more than $200 per coin, respectively. “The amount of price impact we could see for XRP from gobbling up just a tiny fraction of SWIFT’s total volume is insane,” he points out.

He says the crypto asset offers significant advantages over traditional SWIFT transactions, including faster settlement times, lower fees and the elimination of the need for banks to hold large reserves in multiple currencies. “It’s cheaper, faster, more reliable and it costs companies a lot less money to use because they don’t have to hold these huge reserves of every coin that exists – they just hold XRP,” Rietveld notes.

Related reading

Rietveld also discusses the possibility of a supply shock if institutions start accumulating cryptocurrencies. He points out that a substantial portion of the token is in escrow and that institutional demand could exceed available public supply. “That’s honestly not enough. That is not enough XRP for all these institutions, so they will have to buy from the public supply – the XRP that you and I buy,” he says. “With the supply of XRP already limited, we could see the price of XRP skyrocket to unprecedented levels.”

Looking ahead, Rietveld is optimistic about the long-term prospects. “I could literally see this thing going to $200 a coin very easily, and I think this is something that we could actually see happening within the next ten years – not the next five, but the next ten years” , he predicts. “Next year, though, I think XRP will rise above $10, I have no doubt about that.”

$XRP WILL GET $60 TONIGHT WITH THIS FAST NEWS! Here’s the math!! pic.twitter.com/lbQPeSVD3j

– Levi | Crypto Crusaders (@LeviRietveld) October 9, 2024

At the time of writing, XRP was trading at $0.5266.

Featured image created with DALL.E, chart from TradingView.com