Ripple’s XRP coin climbed to a new all-time high earlier this year after more than seven years. While the current market correction has been overwhelming for investors, many anticipate XRP’s price to eventually breach the $100 mark. Let’s discuss a few reasons why the popular crypto may rise to the three-digit price point in the future.
Why Ripple’s XRP Will Breach $100
Prominent crypto analyst Zach Humphries recently took to X and shared his thoughts on why XRP could eventually hit three-digit prices. According to Humphries, XRP’s growth will be driven by “real adoption, real regulation, real institutional integration, real settlement use, and real market transformation.“
XRP has already experienced many of the points listed above. The asset has had incredible adoption over the last few years. Regulation clarity has also led to a rise in the asset’s price. The settlement of the SEC vs. Ripple lawsuit brought much-needed regulatory clarity to XRP’s status. Institutional integration has also seen substantial growth. The approval of several XRP ETFs may likely lead to more institutional interest in the asset. Settlement use is already a strong suit for XRP. The popular crypto is one of the most utilized assets for cross-border transactions. Several banks around the world utilize Ripple’s XRP Ledger for cross-border transactions.
Also Read: Expert Reveals Exact Trigger Behind Upcoming XRP Price Explosion
Given the abovementioned points, XRP appears to be on a trajectory to hit never-before-seen price levels. However, macroeconomic conditions and the market environment may hinder XRP’s performance. Despite the growing adoption of XRP, the current global economy has led market participants to take a risk-averse strategy. Cryptocurrencies and other risky assets have taken a hit over the last month and a half. The current trend may continue unless the larger economy improves. XRP’s rise to $100 could take longer than investors would want if economic conditions remain stagnant.