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Market commentator and crypto YouTuber Levi believes XRP has a chance at hitting a four-digit figure amid an imminent adoption surge.
In a video recently shared on X, he set an audacious $10,000 target for XRP. Interestingly, the market pundit based this target on comments from James Wallis, Vice President of Central Bank Digital Currencies (CBDCs) at Ripple.
In two separate interviews, Wallis extensively discussed the ongoing projects and pilots that Ripple is spearheading worldwide, which Levi believes could drive XRP’s price to unprecedented heights.
Global Pilots and XRP Ledger Projects
Levi highlighted the extensive work Ripple has been carrying out behind the scenes with XRP. He stressed that Ripple is conducting significant pilots and private projects involving the XRP Ledger across multiple continents, excluding only Antarctica.
The Crypto Basic recently confirmed that Ripple, XRP and the XRP Ledger (XRPL) have penetrated all seven continents in a previous report. According to Levi, these efforts could potentially lead to a massive surge in XRP’s value if they unfold as planned.
In one of his interviews, Wallis explained that Ripple is developing private versions of the XRP Ledger specifically for central banks. He noted that they built these private ledgers on the same technology as the public XRP Ledger but restricted them to authorized users.
Notably, this approach allows central banks to maintain the privacy they require while still benefiting from the robust, proven infrastructure of the XRP Ledger, which has processed billions of transactions to date.
Wallis emphasized that this private blockchain model gives central banks the security and control they need without sacrificing the efficiency of the underlying technology.
Levi echoed this sentiment, noting that the desire for privacy is a significant factor driving central banks to adopt Ripple’s solutions. Banks prefer private ledgers to keep their transactions confidential, both from other financial institutions and the public.
The Role of Central Banks and Emerging Markets
Meanwhile, in a second interview, Wallis highlighted the role Ripple plays in global financial markets. He revealed that Ripple is actively part of more than ten ongoing projects with central banks worldwide, with discussions happening with many more.
Wallis also pointed out that these projects are not only for developed economies. In emerging markets, where traditional banking services often face limitations, Ripple’s technology could be particularly transformative.
Wallis noted that central banks are not equipped to manage retail accounts directly, which is why intermediaries, such as commercial banks, fintech companies, and payment providers, will continue to play a critical role.
In emerging markets, where banking penetration is low, these intermediaries could use Ripple’s technology to reach underserved populations. This could include new entities that central banks might license to ensure proper oversight and regulatory compliance.
Levi connected these insights to the broader potential of XRP, stressing that Ripple’s work across different industries and regions demonstrates XRP’s expansive utility.
He argued that the involvement of such a wide array of players—from central banks to fintech startups—shows the impact Ripple’s technology could have on the global financial system.
XRP to $10,000?
Overall, Levi expressed optimism about the future of XRP, particularly as Ripple’s ongoing projects and pilots move closer to full-scale implementation. He suggested that the increasing adoption of Ripple’s technology by these financial institutions could drive mass adoption of XRP, leading to significant price appreciation.
Levi also tied these developments to the recent legal clarity surrounding XRP, referencing Ripple’s partial victory against the U.S. SEC. With the court’s stance on XRP clear, central banks might now feel more confident in leveraging the XRP Ledger for their digital currency initiatives without fearing regulatory backlash.
The market pundit expects this to contribute to the XRP bull run. While most market commentators agree with these speculations, the $10,000 target has come under scrutiny. XRP, currently trading for $0.5915, would need to spike 1,690,517% to reach $10,000.
Despite the pessimism, Levi has maintained his target. He disclosed his personal investment approach in light of these developments. According to him, he is preparing for a bullish trend in XRP, driven by the regulatory clarity and the advancements Ripple is making with central banks.