XRP Price to Hit New All-Time Highs as XRPL Adoption Goes Mainstream

The price of XRP, the native cryptocurrency of the Ripple payment network, is expected to rise in tandem with the adoption of the XRP Ledger (XRPL), according to industry leader Kevin Cage.

Cage, a prominent crypto investor and advisor to Iron Key Capital, recently echoed these sentiments in an interview with Cointelegraph. He said that the XRPL is “one of the most scalable and efficient blockchains in the world” and that its adoption is “only going to grow in the years to come.”

“As more and more businesses and institutions start using XRP for cross-border payments, the demand for the token will increase,” Cage said. “This will drive up the price of XRP.”

🧵 $XRP #XRPL

I’ve seen some comments claiming that the #XRPL will become widely adopted, but that $XRP will NOT appreciate in value with it. That’s silly.

As liquidity, connectivity, & development grow on the XRPL, XRP will likely appreciate too. pic.twitter.com/978JOdy76g

— Kevin Cage (@Kevin_Cage_) August 27, 2023

Cage is not the only one who believes that XRP is poised for a price rally. A recent report by Digital Asset Research predicted that XRP could reach a price of $3.84 by the end of 2023.

The report cited financial institutions’ growing adoption of XRP as one of the main drivers of the price rally. The report also noted that the SEC lawsuit against Ripple, which has been dragging on for several years, is nearing its end.

“The SEC lawsuit is a major overhang on the XRP price,” the report said. “If the lawsuit is resolved in Ripple’s favor, it could trigger a significant price rally.”

The XRP price is currently trading at around $0.70. If Cage and Digital Asset Research are correct, the price of XRP could more than quadruple in the next year. However, it is important to remember that the cryptocurrency market is volatile and unpredictable. Any price predictions should be taken with a grain of salt.

Overall, the outlook for XRP is positive. The XRPL is a well-developed blockchain with a strong team of developers behind it. The growing adoption of XRP by financial institutions is a major positive development. And the SEC lawsuit is nearing its end, which could remove a major overhang on the price.

If you are considering investing in XRP, it is important to do your own research and understand the risks involved. However, the potential rewards could be significant.

XRP Price

As of 17:01:51 PST on August 28, 2023, the price of XRP is 0.5235 USD. This is a decrease of 0.12% from yesterday’s price of 0.5229 USD. The price of XRP has been on a downward trend since reaching a high of 0.9288 USD in April 2023.

Costs of Txns on the XRPL:

– Minimum transaction cost required for a standard txn is 0.00001 XRP (10 drops)
– To protect the XRP Ledger from being disrupted by spam, each txn must destroy a small amount of XRP
– Thus far, 11,541,120.65 XRP have been permanently burned pic.twitter.com/NvxTFjYtQD

— Kevin Cage (@Kevin_Cage_) August 27, 2023

There are a number of factors that could affect the price of XRP in the future. These include the overall performance of the cryptocurrency market, regulatory developments, and the progress of Ripple’s legal case against the SEC.

Some experts believe that XRP could reach $5 in 2023, while others are more cautious and predict a price of around $1. Ultimately, the future price of XRP is uncertain and will depend on a variety of factors.