A crypto expert has predicted a 1,300% surge in the XRP price amid a growing rise in activity on the XRPL (XRP Ledger). The expert sees parallels with the explosive run of 2017, while on-chain data and real-world use cases suggest this cycle could be even bigger.
XRP Ledger Gains Momentum as SWIFT Volumes Drop Globally
Reports suggest a growing shift from SWIFT to the XRPL. SWIFT, the decades-old backbone of international banking, saw a 15% drop in transaction volume. In contrast, XRPL activity is climbing, thanks to its speed, cost efficiency, and the elimination of correspondent banking chains.
Ripple CEO Brad Garlinghouse forecasted at the Apex XRPL Summit that the ledger could capture up to 14% of SWIFT’s global volume within five years. Given that SWIFT handles over $150 trillion annually, this projection suggests that more than $21 trillion could move over XRPL.
Notably, more financial institutions are using the XRPL because it offers quick settlements in three to five seconds, a clear structure, and less need for pre-funded accounts. RippleNet, which operates on the XRPL, now handles billions of dollars in international transactions. This enables banks and fintech companies to enhance their cash flow and lower costs.
Adding to the bullish backdrop, the XRP Ledger’s new EVM-compatible sidechain officially launched on June 30. As CoinGape reported, within its first week, over 1,400 smart contracts went live. Since its launch, over 1,300 contracts are still active.
Meanwhile, Ripple’s RLUSD stablecoin aims to enter the $685 billion remittance market. As more people use RLUSD for payments, DeFi, and remittances, the transaction volume on XRPL is expected to increase. This rise in activity will boost demand for XRP, driving its price up because of greater on-chain liquidity.
Expert Says XRP Price May Jump 1,300%
Well-known expert The Great Mattsby recently highlighted that the XRP price is showing a re-expansion of monthly Bollinger Bands, a pattern last seen before its historic rally in 2017. Back then, XRP soared an additional 1,300% during the breakout. Mattsby’s Gann-based chart analysis aligns this potential move to roughly $45 per XRP.
Source: X
Despite its past challenges, XRP price momentum has been undeniable. At press time, XRP price trades at $3.5 with a market cap exceeding $207 billion, up over 63% in the past month. This also aligns with the growing activity on the XRP Ledger.
Activity on the XRPL is growing rapidly. Daily active addresses have increased 7x, and transaction volumes have reached record levels. The XRPL now has more than 29,000 active addresses and over 10,000 unique traders.
Further data shows that daily transactions exceeded 830,000. Trading in meme coins also brought in $6.25 million in volume. Stablecoin activity remains steady at around $5.6 million, while the total volume on decentralized exchanges (DEX) on XRPL reached over $12 million, showing good liquidity.
Source: X
In summary, as the XRPL scales from payments into smart contracts and stablecoin remittances, experts believe the XRP price could be on the verge of a major surge.
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Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
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