thecryptobasic.com
The $XRP community is buzzing with bullish price predictions after reports revealed that BlackRock is using Ripple’s $RLUSD stablecoin as collateral for its tokenized funds.
This adoption has sparked widespread discussions within the $XRP community, seamlessly linking narratives of institutional involvement with technical analysis that highlights ambitious upside potential.
Key Points
- The $XRP community has turned bullish following reports of BlackRock’s use of Ripple’s $RLUSD stablecoin.
- The news triggered a surge in $XRP-focused technical analysis, with some analysts suggesting a spike to $6-$14.
- Others issued more bullish projections, with long-term targets ranging from $100 to $1,700.
- While $RLUSD adoption may boost sentiment, the extreme price target implies unrealistic market capitalization levels.
BlackRock Reportedly Using $RLUSD as Collateral
The speculation emerged earlier this year after Crypto DYL News reported on a document claiming that BlackRock uses $RLUSD as collateral for tokenized funds and cross-border payments.
According to the leaked shareholder update, $RLUSD ranks among the top five U.S. dollar stablecoins and operates within Ripple Prime as an off-ramp for tokenized assets, including BlackRock’s BUIDL.
Since then, the viral document has gained widespread traction on X. Proponents cite BlackRock’s reported use of $RLUSD as evidence of rising institutional engagement with Ripple’s ecosystem.
Viral $XRP Predictions Amid BlackRock’s $RLUSD Adoption
The news of BlackRock’s adoption of $RLUSD has fueled a wave of technical analyses within the $XRP community. Analysts such as Korean Elliott Wave expert XForceGlobal project medium-term $XRP targets between $6 and $14.
Meanwhile, other commentators propose far more speculative long-term targets, ranging from $100 to $1,700, based on breakout patterns and historical cycles. Pseudonymous analysts Remi Relief and Bird are among those predicting $XRP could surpass $1,000, with Remi calling $1,700 his conservative estimate.
Assessing the Feasibility
$XRP currently trades around $1.91, meaning any of these price targets would transform the token’s landscape. The $6 target appears attainable, requiring a 214% rally from current levels.
In contrast, reaching the $1,700 mark would demand an extraordinary 88,900% surge, highlighting the extreme speculation behind such forecasts.
At that level, $XRP’s market capitalization would soar to $103.46 trillion, given its 60.86 billion circulating tokens, outpacing the combined valuations of the global crypto market and even gold and silver together.
Consequently, while BlackRock’s use of $RLUSD as collateral may boost sentiment, the likelihood of $XRP hitting $1,700 remains extremely low.