Ripple’s XRP rally to $100 is tied to a SWIFT-like platform, not an ETF

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Investors in Ripple Labs and its native coin, XRP, have been waiting for the digital asset to cross over to $1. Now, XRP could gross above $100 should Ripple Labs invest in a SWIFT-like platform to meet international trades.

What will it take for XRP to rally to $100

The daily chart formation indicates that XRP is showing a stable trend. Despite the ongoing trend, Ripple’s choice to cross-appeal the SEC’s decision in the United States temporarily boosted prices. The coin has returned to the trend established in early October. 

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Unless the market observes significant shifts in momentum, pushing XRP above $0.55 and the September highs, the prevailing downtrend is likely to persist. Currently, the coin is up 1.5% on CoinGecko, trading at $0.5399.

There are reports that Ripple, through XRP, could be in line for the next Spot ETF. Investors predict that an XRP ETF could push the coin’s price to $1. 

Most recently, Ripple revealed it’s working on a suite of new features for Ripple Custody.  Analysts expect that the XRP Ledger (XRPL) digital ledger technology (DLT) could attract a substantial portion of the traditional messaging system’s clientele, especially if it chooses to compete directly on a global level.

The advantages of XRPL for businesses operating on a global scale are significant and should not be overlooked. It operates significantly faster due to the absence of intermediaries, in contrast to SWIFT, which acts as a middleman between institutions. 

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Crypto analyst Levi Rietveld expects that XRP will shoot up to $60 overnight. Many feel that if any of these circumstances happen, the token might skyrocket to $100 in a short period of time.