The global cryptocurrency market is currently valued at approximately $3.8 trillion, equivalent to a total growth of 180% over the past four years, or about 41% per year. Analysts at Morningstar predict that this market could reach $7.8 trillion by the end of 2034, a figure that is considered modest but still implies a 105% increase over the next decade.

When applying this growth rate to XRP, currently trading at $3, its price could reach $6.15 by 2034. However, XRP has a history of outperforming the overall market. Specifically, over the past four years, XRP has increased by up to 360%, and this trend is likely to continue due to its strong position as the third-largest cryptocurrency by market capitalization.

XRP Price Forecast: $9 by 2034 or $12.25 by 2029?

Analyst Geoffrey Kendrick from Standard Chartered Bank predicts that XRP could reach $12.25 within the next 5 years, corresponding to a growth of 310%, or about 36% per year. A more cautious forecast suggests that XRP could triple to $9 over the next decade, especially if the following factors come to fruition:

  • The popularity of Ripple USD stablecoin (RLUSD)

  • Approval of spot XRP ETFs

XRP and Ripple – A SWIFT Alternative for International Payments

XRP is the native token of the XRP Ledger, a blockchain developed by the fintech company Ripple to optimize cross-border payments and currency exchange – traditionally dominated by the SWIFT system.

While SWIFT is often costly and time-consuming due to intermediaries, Ripple's solution allows:

  • Instant payment within seconds

  • Much cheaper than traditional systems

Currently, there are fewer than 200 financial institutions collaborating with Ripple, but with the launch of the stablecoin RLUSD, Ripple is opening up opportunities to attract more banks and fintech companies by minimizing price volatility risk – a concern that has previously hindered the use of XRP in payments.

XRP ETF – The Key to Expanding Investment Cash Flow

Individual and institutional investors are increasingly interested in digital assets, especially high-profile coins like XRP. However, purchasing XRP on exchanges like Coinbase remains cumbersome due to:

  • High transaction and custody fees

  • Need to create a separate account for digital assets

Therefore, some asset management companies have filed with the SEC for approval of spot ETFs for XRP. If approved, these ETF funds will allow investors to access XRP through traditional brokerage accounts, much easier than having to trade on cryptocurrency exchanges themselves.

The reality shows: Since the SEC approved spot Bitcoin ETFs in January 2024, Bitcoin's price has increased by 160%. This increases the likelihood that XRP could also see similar gains when the ETF is approved.

Cryptocurrency Support Policy from the Trump Administration

The approval of XRP ETFs is becoming increasingly feasible due to political factors:

  • Paul Atkins – a pro-cryptocurrency thinker – has become the Chairman of the SEC.

  • The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), aimed at legalizing stablecoins like RLUSD, has been passed by the Senate and is about to be approved by the House.

Warning: Investing in cryptocurrencies always carries high risks

Although the outlook for XRP is very attractive, investing in cryptocurrencies always comes with extreme risks. XRP could reach $9 in the next decade, but strong price fluctuations are almost certain to occur – potentially dropping by 50% or more in a short period. Therefore, investors should not put money into cryptocurrencies if they are not prepared to face significant losses.

Conclusion

XRP is facing many long-term growth opportunities thanks to:

  • Potential to replace SWIFT in international payments

  • The launch of the stablecoin RLUSD

  • The possibility of XRP ETF approval

However, caution and risk management are vital for anyone looking to invest in the cryptocurrency sector. Invest strategically – and only with the money you can afford to lose. #Write2Earn