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BarriC, a prominent voice in the $XRP community, has boldly claimed that banks and financial institutions have not yet fully adopted $XRP.
He bases this belief on $XRP’s relatively low price, as the coin continues to trade around $2. According to BarriC, a significant indicator of widespread bank adoption would be a much higher price point.
Current Prices Reflect a Pre-Adoption Phase
He asserted that the price of $XRP could soar into the hundreds or even thousands of dollars once global banks begin actively utilizing the digital asset. BarriC suggested that the value of $XRP could reach levels such as $100, $500, or even $1,000 per coin once banks begin adopting it.
The analyst believes $XRP’s current price of around $2 is evidence that widespread institutional adoption has yet to occur. As a result, he emphasized that this is a rare opportunity to accumulate the coin at low prices before its full utility through adoption by financial institutions.
“No More Cheap $XRP Ever Again”
The community commentator believes that once global financial institutions fully integrate $XRP into their payment infrastructure, particularly through Ripple’s payment solution, the asset’s price will experience exponential growth. He boldly claimed that $XRP could skyrocket past $100 once this occurs and even reach $500 or $1,000 per coin.
He concluded the post with a warning to current investors and skeptics: there will be “no more cheap $XRP ever again.”
This latest prediction aligns with BarriC’s history of ambitious calls to accumulate $XRP while it remains “cheap.” He previously argued that, in the future, $500 per coin may be considered a bargain.
Indeed, such predictions have energized many $XRP holders. However, critics caution that price projections in the hundreds would require a market capitalization that surpasses major tech giants like Apple and Google. Consequently, they dismiss such outlooks as far-fetched.
Clarification on $XRP, Bank Use, and Price Movements
Meanwhile, the claim that $XRP’s low price is due to banks not using it remains speculative. Proponents of this view often argue that a price in the $100 to $1,000 range is necessary to provide the liquidity needed for trillion-dollar transactions.
However, Ripple has clarified that its payment software does not directly influence the price of $XRP, either bearishly or bullishly.
Additionally, analysts have noted that the current liquidity available through $XRP is insufficient to process trillion-dollar transactions. In essence, $XRP’s price will not magically soar into triple digits solely for this purpose.
Moreover, a number of financial institutions already use Ripple’s payment network. Specific examples include Tranglo and SBI Japan. It is worth noting, however, that while $XRP is integrated into Ripple Payments, it is not a mandatory component.
Essentially, banks can use Ripple’s product without necessarily utilizing the $XRP token. Indeed, some could prefer using a stablecoin like RLUSD.
Nonetheless, despite these facts, many $XRP supporters remain optimistic that bank adoption could eventually drive $XRP to astronomical prices.