Simon McLoughlin, the Chief Executive Officer (CEO) of Uphold, a cloud-based financial services platform, has expressed optimism about the XRP price outlook despite the cryptocurrency’s stagnant price. McLoughlin predicts that the XRP price could surge as high as $10,000, surpassing the value of the world’s second-largest cryptocurrency, Ethereum.
XRP Price To Reach $10,000
A crypto analyst identified as ‘Crypto Sensei’ on X (formerly Twitter) has unveiled a bullish prediction for XRP, as articulated by McLoughlin. McLoughlin has outlined several factors that could propel XRP’s rise to new all-time highs.
Offering a glimpse into XRP’s future outlook, the Uphold CEO indicated that XRP’s integration into the traditional financial service sector would facilitate global recognition and adoption, leading to significant growth in the cryptocurrency’s market value. He projected that every country will adopt XRP, and this growth will fuel a massive price surge to $10,000.
McLoughlin based his bullish predictions on XRP’s tokenization and cross-border payment capabilities. He stressed the transformative potential of tokenization in the finance industry, predicting an influx of capital and a shift involving digitizing real-world assets such as stocks, real estate, bonds, and others, thereby enhancing accessibility and liquidity.
As a technology which can be used for asset tokenization, XRP stands out for its advanced use cases and its capacity for swift and cost-effective cross-border transactions.
Sharing McLoughlin’s positive sentiments regarding the XRP price future outlook, Crypto Sensei has asserted XRP’s superiority over Bitcoin in both tokenization and international payment systems. Notably, he highlighted XRP’s high transaction speed, which settles hundreds of transactions within seconds, as compared to Bitcoin, which takes minutes to process and complete transactions.
Is XRP’s Rise To $10,000 Farfetched?
In considering McLoughlin’s $10,000 price forecast for the XRP price, it is important to note that the XRP price has been on a downward trend for years. This decline can be attributed to the backlash from its ongoing legal battle with the United States Securities and Exchange Commission (SEC), which started more than three years ago.
XRP has been continually consolidating around the $0.5 price mark, making a year-long decline of $0.45%. The cryptocurrency saw a slight rebound around March, exceeding the $0.6 threshold, but eventually witnessed a price correction and began trading around $0.5 again.
To many XRP investors, a price increase to $10,000 may be a long shot, given that XRP has only recorded a highest price of $3.84.
Crypto Sensei has also acknowledged the uncertainty of this ambitious price target, disclosing that it would take years before XRP can reach $10,000. During these years, XRP will need to gain widespread adoption and recognition, thereby boosting its demand among users in different markets, and potentially catalyzing a price surge.
An XRP supporter, identified as ‘JackTheRippler’ has also revealed in a recent X post that XRP has been successfully tested by over 11,000 banks on the old system “SWIFT.” He predicted that Ripple could potentially become a household name, with XRP acting as its backbone.