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At the time of writing, XRP was trading around $0.248 having jumped approximately 6.3% in the past 24 hours.
As the global crypto adoption rises amid the pandemic, major digital assets are set to rally to new all time high before the next Bitcoin halving. XRPL native coin, XRP, continues to attract attention from retail investors, institutional investors and also from different government agencies. Largely supported by Ripple in its quest to take over global remittance business from rival SWIFT, the asset is likely to rally more than prior crypto bull runs. According to crypto analyst, Credible Crypto [email protected], XRP is poised to rally and trade between $20 and $30 in the next bull rally.
The analyst indicated this during a series of tweets sparked by his comments during the weekend.
But it doesn’t need to do ANY of these things to make you and me life changing money over the next 3 years.
— Credible Crypto (@CredibleCrypto) October 2, 2020
XRP and Future Use Cases Support Credible Crypto Predictions
At the time of writing, XRP was trading around $0.248 having jumped approximately 6.3% in the past 24 hours, according to metrics provided by CoinGecko.
In addition, the asset had a market capitalization of $11,202,341,756 and reported daily trading volume of approximately $1,637,703,909. The coin had 45,162,407,484 tokens in total circulation. With a prediction price of $30 in three years, the return for investors would be around 125 times the initial investment.
The asset future prospects are largely supported by its strong fundamentals factors and recent technical analysis that indicates plausible rally.
For the fundamentals, Ripple is striving to get as many financial institutions into its RippleNet and later incorporate them into the ODL network. With over 300 financial institutions already subscribed into the company’s network, it indicates future use cases of the asset. Whereby, future digital asset market price is set to be derived from the use case it offers to the global market. Although speculation will play a role in the future rallies, analysts agree the use case will separate the best from the rest.
Last week, Ripple Labs received a patent (No. 10,789,068) for a smart contract that can use oracles to connect a distributed platform to a variety of different real-world data. This only adds to future use cases for XRP, hence ensuring retail and institutional investors get great future returns.
On the technical standpoint, during early Monday’s London trading session, XRP bulls appeared strong to reclaim August’s highs.
Especially supported by the fact that the 200MA has just crossed with the 4-hour candlesticks.