XRP News Today: Ripple’s Banking License Bid Sparks 2100% XRP Price Prediction

Ripple’s recent application for a U.S. banking license has sparked significant interest in the cryptocurrency community, particularly regarding the potential impact on the price of XRP. The move has led to a flurry of discussions and predictions about how this regulatory step could transform XRP’s role in the financial landscape.

If Ripple’s application for a banking license and a Federal Reserve master account is approved, the company could operate as a full-fledged crypto bank. This would grant Ripple direct access to the Federal Reserve’s payment systems, such as Fedwire and FedNow, allowing it to function as a comprehensive financial institution. This development could enable Ripple to offer services for both traditional and cryptocurrency transactions under government regulations.

Vincent Van Code, a prominent XRP supporter and software engineer, has shared his optimistic outlook on X. He believes that Ripple’s efforts to secure a banking license and a Fed master account could position it as the first-ever crypto-focused bank. This move could allow Ripple to bypass traditional commercial banks, offering FDIC-insured accounts and loans backed by crypto assets like XRP. Many in the community believe this could enhance XRP’s acceptance in the broader financial world.

Van Code’s bold price prediction for XRP, ranging between $30 and $50, has garnered considerable attention. He bases this forecast on current market trends and anticipated regulatory changes. Key factors influencing this prediction include the potential approval of an XRP spot ETF and significant institutional investments, estimated between $20 billion and $50 billion. Van Code suggests that if Ripple gains banking approval, XRP could capture a substantial share of the cross-border payments market, valued at around $1 trillion.

Ripple’s global partnerships and presence further support the optimistic XRP price prediction. Van Code highlights that Ripple’s collaborations could strengthen XRP’s role as a bridge asset in central bank digital currency (CBDC) systems across more than 50 countries. Additionally, Ripple’s partnership with the Saudi Central Bank could pave the way for XRP to be used in oil trade payments. The introduction of Ripple’s stablecoin, RLUSD, could also enhance XRP’s utility, especially if integrated with digital dollar systems backed by the Federal Reserve.

Despite the optimism, some analysts remain cautious. Olivia Monroe, a FinTech strategist, acknowledges Ripple’s ambitions but advises prudence regarding such high XRP price predictions. She notes that achieving a $50 price point would imply a market value in the trillions, which she considers ambitious given the current market conditions. However, Monroe also points out that Ripple’s recent legal victories and clearer regulations could open new opportunities, such as an XRP-based ETF and on-chain lending platforms.

Currently, the XRP price is trading around $2.22. While the bold XRP price predictions have captured the market’s attention, most experts recommend waiting for regulatory updates before making significant investment decisions. Ripple’s efforts to gain regulatory approval have made XRP a focal point in the market, with the potential for substantial growth if the company successfully navigates the regulatory landscape.