Levi Rietveld, a financial analyst and crypto commentator, has projected that XRP could surge “overnight,” leveraging its potential role within SWIFT’s vast global payment network.

With SWIFT handling trillions of dollars in daily transactions, Rietveld suggests even a small percentage of this volume shifting to XRP could trigger a massive price surge. The financial analyst provided the mathematical breakdown of how the projected scenario could play out for XRP.

The Math for XRP Price Based on SWIFT Volume

Rietveld first cited a 2017 paper indicating that SWIFT manages around $5 trillion in daily transactions, equating to $1.25 quadrillion annually. However, he speculated that the current figure is likely currently around $7 trillion daily. This translates to around $1.8 quadrillion annually, based on 250 business days.

Meanwhile, Rietveld noted that SWIFT fees are astronomical, with some transactions costing up to $1,000. In this context, XRP emerges as a superior alternative, offering faster, cheaper, and more reliable transactions.

The analysis considers the hypothetical scenario in which XRP captures just 5% of SWIFT’s market share. Notably, 5% of SWIFT’s daily volume of $7 trillion amounts to $350 billion. As of today, XRP has a daily trading volume of approximately $1 billion, with its price around $0.52.

Essentially, in the speculative scenario where XRP captures just 5% of SWIFT’s global transactions, it could experience a 350-fold increase in its daily market volume.

Rietveld theorized that this scenario would translate to XRP reaching around $50 per coin. This suggests a proportional rise in price corresponding to the increase in market volume. However, it bears mentioning that this evaluation angle is inherently flawed.

Meanwhile, Rietveld further posited that if XRP captures 10% of SWIFT’s volume, its price could reach $100. Also, he argued that at 20%, XRP could exceed $200, though these are all speculative estimates.

Essentially, the financial commentator seeks to emphasize that the potential price impact of XRP capturing even a small portion of SWIFT’s volume is enormous. 

In his view, it’s not far-fetched for XRP to capture 5% or more of SWIFT’s business, given XRP’s advantages in cost and speed and its elimination of the need for businesses to hold large reserves of various currencies.

Call to Accumulate XRP and Timeline for Price Projections

Accordingly, Rietveld urged the investing public to continue accumulating XRP. He projected a supply shock that could occur when institutions start buying up XRP, as a large portion is locked in escrow. According to him, the remaining public supply will be in high demand, driving the price higher.

“It’s going to allow us to see XRP’s price catapult to levels never seen before,” he stated.

He concluded that XRP could easily reach $200 per coin within the next ten years and expects it to surpass $10 within the next year.

Market analysts identify an unprecedented bull pennant on the XRP chart, arguing that its presence could result in major price surges.

The analyses come as XRP price struggles at important support levels amid the recent market correction. As the broader market battles to retain the bullish momentum, XRP’s woes deepened with the appeal notice filed by the U.S. SEC in the Ripple lawsuit.

XRP Forms 7-Year Bullish Pennant

Despite XRP’s unique struggles, market analyst Armando Pantoja recently shared a 1-week chart for XRP, calling attention to a massive unprecedented 7-year bullish pennant formation. 

Data from the chart shows that XRP has consolidated within this triangle since its $3.31 peak in early 2018. The weekly chart shows a gradual upward trend since 2020 when the SEC’s lawsuit began, forming the base of the pennant, while the upper line slants downward. 

The volume profile indicates that traders have remained cautious, with XRP’s price movement becoming tighter over time. Pantoja pointed out the rarity of such a prolonged bullish pennant, and he believes this could be a precursor to a massive upward price movement.

As XRP moves close to the tip of this pennant, this suggests that a breakout might happen soon, with the price coiling in a manner that usually precedes explosive moves. 

XRP Targets $10-$20

Another analyst, Mikybull, discussed XRP’s price potential, focusing on a longer-term 2-month XRP chart. His chart identifies a parallel channel formation, showing XRP’s price action as it moves within an ascending range. 

The middle line of the channel has served as key support, and XRP has been bouncing back from it, inching closer to a potential breakout. Mikybull pointed to the repeated historical highs, suggesting that XRP is aligning with a pattern that could send it skyrocketing. 

The Bollinger Bands on the chart show that XRP is nearing the edge of a squeeze, where volatility compresses, setting the stage for a sharp move either way. However, Mikybull is confident in a bullish outcome, noting that the market’s pessimism about XRP’s prospects could actually fuel its rise to $10-$20.

The analyst also leveraged the William %R, which suggests that XRP is at a point in its cycle similar to where it was before its previous major rallies. According to Mikybull, the amount of bearish sentiment surrounding XRP could set the stage for one of the most remarkable price surges in this market cycle.

Meanwhile, at press time, XRP trades for $0.5402, having recorded a 1.89% increase over the past 24 hours. This rebound came on the back of the collapse to the $0.52 region following the SEC’s appeal notice. Bulls retook moderate control after the price stabilized at this level.