A crypto pundit has declared that missing out on XRP, the native token of the XRP Ledger (XRPL) could potentially become the biggest mistake an individual can make. The analyst has expressed bullish sentiment on its dominance and future outlook following its possible integration into financial banking systems.
Related Reading
Here’s Why Investors Should Not Miss Out On XRP
In a June 27 X (formerly Twitter) post, crypto analyst and avid XRP supporter, King Karan boldly demonstrated his confidence in the crypto’s long-term price prospects. According to Karan, missing out on XRP’s integration into the financial banking system could become one of the most profound mistakes for investors.
The analyst has implied that its complete integration into the financial banking system could lead to substantial gains, potentially pushing the cryptocurrency’s price to new all-time highs. He has expressed complete confidence in XRP’s bullish prospects, asserting he would be satisfied with his investment timeline whether a price surge occurs tomorrow or in the next two years.
Karan’s bullish sentiment for XRP likely stems from Ripple’s plans to expand its digital asset operations to various trillion-dollar markets and the altcoin’s goal to replace the SWIFT network, a vast messaging network used by global banks and financial institutions. This potential integration could significantly expose XRP to new markets, fueling widespread adoption and potentially triggering a price surge for the cryptocurrency.
Earlier this year, reports disclosed a major achievement for the Ripple ecosystem, underscoring the potential for the coin to become adopted for international payments. Additionally, Ripple’s Chief Legal Officer (CLO), Stuart Alderoty also predicted last year that XRP could once again be utilized for cross-border payments in the United States (US).
Kang’s deep-rooted belief in the digital asset’s eventual success in the market is heavily dependent on the cryptocurrency becoming adopted by financial institutions. Currently, XRP provides a more affordable and incredibly fast cross-border payment method than leading cryptocurrencies like Bitcoin. With XRP, cross-border transactions are completed in just three to five seconds, making it one of the fastest methods for international money transfers.
Kang has further disclosed that he will continue being bullish on XRP. He revealed his investments in a diverse array of altcoins, emphasizing his strategy of diversification to secure profits despite XRP’s current underperformance.
Other Key Developments That Could Prove Bullish For XRP
Beyond its adoption prospects within the financial banking sector, the conclusion of Ripple’s legal battle with the United States Securities and Exchange Commission (SEC) and the potential launch of an XRP ETF could trigger a significant bullish rally for the altcoin.
Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse and President, Monica Long have also shared their support for an XRP ETF. Garlinghouse believes that the launch of an Ethereum Spot ETF would eventually open doors for the introduction of other crypto ETFs, highlighting that an XRP ETF was inevitable.
On the other hand, Long noted that introducing an ETF would be a highly sensible decision.
Related Reading
Despite the optimistic remarks, XRP continues to trade sideways, experiencing a 2.28% decline over the past week and dropping to $0.47, according to CoinMarketCap.
Featured image from PlasBit, chart from TradingView
