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The XRP price has yet to reclaim its $3.84 all-time high from back in 2018, continuing to trend below $3 even now. However, this has not stopped analysts from predicting a bright future for the cryptocurrency. A fair number have forecasted that not only is the alt coin’s price headed to new all-time highs, but also that it is actually destined to cross double-digits.
With many new developments surrounding Ripple and XRP, even analysts who didn’t believe the double-digit dream seem to be changing their stance.
The XRP Price Could Still Reach $21
Crypto analyst and investor Crypto Bitlord has publicly announced a change in their stance when it comes to the XRP price. While the analyst had previously predicted that the XRP price could reach as high as $5, the double-digit dream had been unreachable. That is, until now, as the crypto analyst has walked back previous “FUD” surrounding the cryptocurrency.
In an X post, Crypto Bitlord explained that they are finally slowly connecting the dots for XRP. With this, the crypto analyst believes that not only will the XRP price cross the double-digit threshold, but now, it actually has the potential to reach as high as $21.
This was made in response to a post highlighting that the US Federal Reserve was actually now looking into payments accounts. These payments accounts are to enable crypto and financial technology companies to access payment rails connected to the Federal Reserve. This is essentially opening a door that was previously closed to these companies in the past.
The turn in the stance of the Federal Reserve is not only positive for crypto, but also, it is expected to be bullish for Ripple and the XRP price. This is because Ripple has, in the past, explained that the XRP Ledger was actually built to facilitate payments for entities.
The speech given by Governor Christopher J. Waller at the Payments Innovation Conference in Washington, D.C., highlights the need to actually bridge the gap between traditional payment methods and the crypto payment methods that are rapidly emerging. Governor Waller explains that the Federal Reserve is actually planning to be a part of this new technology.
“As Federal Reserve staff examine this idea, we will engage with all interested stakeholders to hear perspectives on the benefits and drawbacks to this approach,” the Governor said.
Featured image from Dall.E, chart from TradingView.com
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