Skip to content

Billionaires will buy this cryptocurrency that could rise 23,900% according to asset manager Jake Claver

    Ripple's cross-border payment system is gaining momentum these days. That's good news for Ripple investors XRP (CRYPTO:XRP) token, which could soar to new heights if the closely related payment network really takes off.

    After an extended period of very low trading volume, followed by volatile action amid recent courtroom victories, XRP's average market volume has settled at an all-time high. 24-hour trading volume is $1.7 billion as of Monday afternoon, October 21, up from daily volumes of just $500,000,000 in summer 2023.

    That's more than 5% of XRP's tokens change hands every day. By comparison, even volatile stocks rarely cross the 5% mark, and active volume for calm-valued stocks is often measured in fractions of a percentage point.

    Traditional investors are also paying attention. For example, asset manager and online influencer Jake Claver compares XRP and Ripple Amazon.com (NASDAQ: AMZN). Amazon legitimized the idea of ​​e-commerce in the 1990s and turned many early investors into millionaires. Likewise, Ripple appears poised to disrupt the international financial system with game-changing results for early token holders.

    Claver envisions a world where Ripple one day controls the lion's share of international payments – and also takes over other money transfer payment systems such as the stock market. In that world, the system could handle as much as $6.6 trillion in daily payment volumes and the XRP token would need to be worth around $132 for that vision to work. That would be a staggering 23,900% above the current XRP price, which stops at $0.55 per token.

    This price target is of course quite extreme. Claver presented it as a theoretical thought experiment, not a fixed price target. However, how realistic is the suggested target of $132?

    All types of international money transfers involved $160 billion in settlement costs last year. Market analysts such as the firm Brainy Insights do not even consider Ripple's modest piece of the puzzle and focus their reports on traditional systems such as Western Union, Visaand the overseas banking network SWIFT.

    So there is a significant amount of money to be made, but it will take time to build a serious market presence here. And this relatively attainable capability is just a sliver of the trillion-dollar trading volumes that Claver envisioned across a broader transaction network. So the price target of $132 is not very realistic, at least not in the near future.