The Founder of Black Swan Capitalist, Versan Aljarrah has revealed several key drivers that could catapult the XRP price to new levels. As a public supporter of the XRP coin, Aljarrah has constantly expressed optimism regarding its future outlook, often emphasizing how much the XRP price could grow if it achieves global adoption and widespread acceptance.
XRP Price Projected To Soar To $3.5
In an X (formerly Twitter) post on October 21, Aljrarrah outlined various factors that could catalyze an XRP surge in the future. The Black Swan founder is convinced that the XRP price could become a safe haven digital asset during times of financial crisis.
With increased demand and interest from economies looking for stability and institutional players, XRP could experience what Aljarrah calls a “supply shock.” A supply shock is an event that suddenly increases or decreases the supply of a cryptocurrency.
This proposed supply shock could grossly decrease XRP’s supply which sits at 99.99 billion currently. This decrease would be fueled by an increased demand for XRP, as Aljarrah has suggested that the real driver behind an XRP price surge would be necessity.
This means that XRP will no longer be a speculative asset, but a solution that traditional currencies cannot provide in the face of the weakening United States Dollar (USD). Following Aljarrah’s proposed XRP supply shock, he predicts that the cryptocurrency could gradually rise in value to reach a new target of $3.53.
As of writing, the price of XRP is trading below $1, continually consolidating around the $0.5 mark. The cryptocurrency has been on a steady decline for the past few weeks, plummeting by a whopping 10.44% in the last month, and now trading at $0.53, according to CoinMarketCap. A rise to $3.5, like Aljarrah projects, will require the XRP price to experience a 566% increase from its current price.
Factors That Will Push Price To New Levels
In the wake of growing economic uncertainty and weakening confidence in the US dollar, Aljarrah believes that XRP is positioned to play a vital role in stabilizing currencies and aiding economic recovery.
For instance, the US dollar has been the world’s primary reserve currency over the past few years, with numerous nations depending on it for trade and stability. However, recent inflationary pressures, geopolitical tensions and the growing national debt crisis in the US have raised concerns about the long-term viability and sustainability of the dollar.
This particular issue is why financial gurus like Robert Kiyosaki have been advocating for people to invest or save their money with cryptocurrencies to avoid the financial loss that could come from a dollar collapse.
In the case of XRP, the Black Swan founder has stated that XRP, which is known to facilitate cross-border payments and has shown its ability to settle transactions in real-time with low fees, could emerge as a key player in stabilizing currencies, various economies and global debt.
The cryptocurrency’s excellent liquidity makes it an attractive option for institutions seeking an alternative to traditional banks, especially as fiat currencies could decline. If XRP grows to become a widely accepted alternative to traditional banks, it could experience a supply shock that could trigger the Black Swan founder’s $3.5 price prediction.
Featured image created with Dall.E, chart from Tradingview.com
