Ripple (XRP) Will Be Used by Banks and Financial Institutions

Prominent voice in the XRP community, BarriC, has claimed that financial institutions have not yet fully adopted XRP, and his belief is based on the coin’s relatively low price.

According to the analyst, a significant indicator of widespread bank adoption would be a much higher price point for XRP.

Current Prices Reflect a Pre-Adoption Phase

The analyst asserted that the price of XRP could soar into the hundreds or even thousands of dollars once global banks begin actively utilizing the digital asset.

suggesting that the value of XRP could reach levels such as $100, $500, or even $1,000 per coin once banks begin adopting it.

The analyst believes that XRP’s current price of around $2 is evidence that large-scale institutional adoption is yet to occur.

As a result, he highlighted that this is a rare opportunity to accumulate the coin at low prices.

“No More Cheap XRP Ever Again”

The community commentator believes that once global financial institutions fully integrate XRP into their payment infrastructure, particularly through Ripple’s payment solution, the asset’s price will experience exponential growth.

He boldly claimed that XRP could skyrocket past $100 once this occurs and even reach $500 or $1,000 per coin.

He concluded the post with a warning to current investors and skeptics: there will be “no more cheap XRP ever again.”

This latest prediction aligns with BarriC’s history of ambitious calls to accumulate XRP while it remains “cheap.” He previously argued that, in the future, $500 per coin may be considered a bargain.

Indeed, such predictions have energized many XRP holders. However, critics caution that price projections in the hundreds would require a market capitalization that surpasses major tech giants like Apple and Google. Consequently, they dismiss such outlooks as far-fetched.

Clarification on XRP, Bank Use, and Price Movements

Meanwhile, the claim that XRP’s low price is due to banks not using it remains speculative. Proponents of this view often argue that a price in the $100 to $1,000 range is necessary to provide the liquidity needed for trillion-dollar transactions.

However, Ripple has clarified that its payment software does not directly influence the price of XRP, either bearishly or bullishly.

Additionally, analysts have noted that the current liquidity available through XRP is insufficient to process trillion-dollar transactions. In essence, XRP’s price will not magically soar into triple digits solely for this purpose.

Moreover, a number of financial institutions already use Ripple’s payment network. Specific examples include Tranglo and SBI Japan. It is worth noting, however, that while XRP is integrated into Ripple Payments, it is not a mandatory component.

Essentially, banks can use Ripple’s product without necessarily utilizing the XRP token. Indeed, some could prefer using a stablecoin like RLUSD.

Nonetheless, despite these facts, many XRP supporters remain optimistic that bank adoption could eventually drive XRP to astronomical prices.