XRP, Ripple’s native token, is poised to join a $1.2 trillion derivatives market following Ripple’s integration into the ranks of the ISDA ushers.
XRP enters the $1.2 trillion derivatives market
Earlier in August 2023, Ripple, a crypto payment solution, launched announced its membership with the International Swaps and Derivatives Association (ISDA). The strategic move came as a pleasant surprise to members of the XRP community, as it positioned XRP to fully participate in the massive $1.2 trillion derivatives market.
Ripple’s entry into this prestigious club is seen as a major milestone, putting the crypto payments company alongside financial giants like JPMorganGoldman Sachs and the London Stock Exchange.
Many XRP enthusiasts are looking forward to a bullish outlook for the XRP token. Some have even considered the possibility XRP violating the $100 threshold. These expectations are fueled by considerations that a successful performance in the derivatives market could serve as a catalyst for significant price movements in the cryptocurrency.
Currently the price of XRP has not shown any significant price growth, even with speculation that a Ripple IPO is imminent. Nevertheless, enthusiasts remain vigilant and keep a close eye on the cryptocurrency for any developments pushes the price up. If a $100 milestone is reached, it has the potential to further strengthen the altcoin’s position in the crypto space.
Forecast suggests $100 price increase
Ripple’s potential initial public offering (IPO) and the near resolution of the lawsuit between Ripple and the US Securities and Exchange Commission (SEC), have generated positive sentiment about the future price of XRP. Some analysts have predicted widespread price increases that could be as high $5,000 for a single XRP token in the future.
A remarkable prediction by an X (formerly Twitter) influencer stated that the price of the token was about to reach $100. He used statistics from Bitcoin’s rise from $0.01 to $69,000 in 2021 as the basis for his prediction, highlighting the unpredictability of rising cryptocurrencies.
There have been other recent price predictions that demonstrate this XRP projects to $10. Changelly predicts that the altcoin’s price will surpass its previous all-time high in 2027, and expect the token’s price to rise above $10 by 2030.
The price of XRP is trading at $0.595 at the time of writing according to CoinMarketCap. The price value is more than 83% below the all-time high of $3.84 in 2018.
Price suffer amid crypto market troubles | Source: XRPUSD on Tradingview.com
Featured image of Coingape, chart from Tradingview.com
