Thomas Daniels
Patrick Riley, the founder of Reaper Financial, has expressed optimism about the future of Ripple (XRP), predicting it could set a new record high. In a discussion with market analyst Zach Rector, Riley suggested that XRP might exceed $22 in the forthcoming bull market.
He elaborated on various initiatives his Reaper team has developed using the XRP ledger, which he believes will significantly contribute to XRP’s bullish momentum. Riley also highlighted the impact of incorporating Ethereum Virtual Machine (EVM) side chains into the Ripple network, anticipating this will significantly enhance its growth.
Transitioning from Ethereum to XRP, Riley criticized Ethereum for being slow and costly, likening it to a “dying horse limping along.” He anticipates that many projects will switch to XRP, which offers a quicker and more affordable alternative with the integration of EVM.
Riley predicts that numerous tokens will transition from the Ethereum network to the XRP ledger. In his bold forecast during the interview, he expressed a “very realistic” expectation that Ripple’s native crypto token might eventually surpass Bitcoin (BTC) as the leading cryptocurrency.
Discussing further developments, Riley talked about the XLS-30 amendment, which aims to introduce an Automated Market Maker (AMM) to XRP. He believes this could lead to more XRPL tokens being listed on exchanges, particularly those previously excluded due to low trading volumes, potentially driving up the token’s price.
The current price of XRP is $0.619538, experiencing a 0.5% decrease from its value 24 hours prior. The cryptocurrency has established support levels between $0.55 and $0.51 and encounters resistance around $0.66. Despite not having surpassed its all-time high of $3.84 in the past six years, analysts are optimistic it could exceed $10 in the next anticipated crypto bull market.
SOURCE
