The Usefulness of XRP in Cross-Border Payments
This utility has attracted the attention of several payment entities over the years. Last December, a JPMorgan report mentioned Ripple and XRP as entities that could help unlock the $120 billion stuck in cross-border payments. The Crypto Basic also revealed in November 2023 that Grayscale had presented XRP as a potential alternative to SWIFT in cross-border settlements.
Additionally, the American Institute of Physics, IMF, and World Bank have also highlighted the usefulness of XRP in cross-border payments in different reports. Interestingly, even SEC Chairman Gary Gensler has already acknowledged the advantages of XRP over traditional fiat currencies for cross-border payments.
With this utility recognized by the general public, investors believe that XRP is massively undervalued, predicting an imminent price explosion, particularly due to the growth of the cross-border payments sector. Citing the bank of englandRipple noted in its New Value Report 2023 that the cross-border payments industry could see a volume of $250 trillion over the next three years.
While this projection is expected to materialize, experts say that XRP would be expected to surge well beyond its current price of less than $1 if it captured a fraction of this volume. XRP community figure and Gold Squad founder Mason Versluis presented a sheet of hypothetical pricing requirements for different volumes of cross-border payments last August.
An argument for an XRP price of $1,000
A prominent market analyst, using the pseudonym Twitter (X) Mason Versluis rrecently brought a document to the attention of the XRP community, lending credence to the high price target. In the sheet, the analysis assesses the trading liquidity needed for XRP to meet different volumes of daily cross-border payments.
