Versan Aljarrah, founder of Black Swan Capitalist, revealed some key factors that could push XRP price to new levels. As a public supporter of the XRP coin, Aljara has always expressed optimism about its future prospects, often expressing how much the XRP price could rise if it gained global adoption and widespread acceptance. Emphasized.
XRP price expected to rise to $3.5
In an October 21st post on X (formerly Twitter), Aljrarrah outlined various factors that could cause XRP to soar in the future. Black Swan founder believes that XRP price has the potential to become a safe digital asset during financial crisis.
With demand and interest increasing from economies seeking stability and institutional investors, XRP could experience what Aljara calls a “supply shock.” A supply shock is an event where the supply of a cryptocurrency suddenly increases or decreases.
This proposed supply shock could significantly reduce the supply of XRP, which currently stands at 99.99 billion units. This decline will be driven by increased demand for XRP, as Aljara suggests that the real driver of the XRP price hike is necessity.
This means that XRP is no longer a speculative asset, but a solution that traditional currencies cannot provide in the face of a weakening US dollar (USD). In response to the XRP supply shock proposed by Aljara, he predicts that the value of the cryptocurrency will gradually increase and could reach the new target of $3.53.
At the time of writing, the price of XRP is trading below $1 and continues to consolidate around $0.5. According to CoinMarketCap, the cryptocurrency has been steadily declining over the past few weeks, plummeting a whopping 10.44% in the last month and currently trading at $0.53. Like Aljara’s project, the XRP price would need to rise 566% from its current price to rise to $3.5.
Factors driving prices to new levels
With increasing economic uncertainty and declining confidence in the U.S. dollar, Aljara believes XRP is positioned to play a key role in stabilizing the currency and aiding economic recovery.
For example, the US dollar has been the world’s main reserve currency for the past few years, and many countries rely on it for trade and stability. However, recent inflationary pressures, geopolitical tensions, and the escalation of the US sovereign debt crisis have raised concerns about the dollar’s long-term viability and sustainability.
It is because of this particular problem that financial gurus like Robert Kiyosaki have been encouraging people to invest and save in cryptocurrencies to avoid the financial losses of a collapsing dollar.
In the case of XRP, Black Swan’s founders believe that XRP, which is known for facilitating cross-border payments and has demonstrated the ability to settle transactions in real-time at low fees, will play an important role in stabilizing the currency. He said it could play a role. Different economies and global debt.
The superior liquidity of cryptocurrencies makes them an attractive option for financial institutions seeking an alternative to traditional banks, especially in the face of potential depreciation in fiat currencies. If XRP grows to the point where it is widely accepted as an alternative to traditional banks, a supply shock could occur, triggering the Black Swan founder’s $3.5 price prediction.
Price suffers from selling pressure | Source: XRPSDT on Tradingview.com
Featured image created by Dall.E, Charts from Tradingview.com
