Robert Doyle Advocates an XRP Spike to $10,000, Citing the Potential Bullish Effects of T-Bills Tokenization on the XRPL

Cryptonairz founder Robert Doyle, fondly called Crypto Sensei, advocates an XRP spike to $10,000, citing the potential bullish effects if this Crucial Catalyst occurs.

Cryptonairz founder Robert Doyle, known as Crypto Sensei, is optimistic about an XRP price surge to $10,000, highlighting the potential bullish impact of a crucial catalyst.

Doyle's recent analysis, featured in an X video, centers on the latest news regarding the tokenization of U.S. Treasury bills on the XRP Ledger. Specifically, OpenEden, a leading tokenization platform, announced an initiative to introduce tokenized T-Bills on the XRPL, in partnership with Ripple and an initial $10 million contribution from the payment firm.

According to Doyle, the tokenization of real-world assets (RWAs) on the XRPL, such as trillions in real estate, stocks, derivatives, and bonds, could serve as the stepping stone that XRP needs to record its substantial price upsurge.

One of the reasons XRPL could become the preferred platform for these tokenization efforts, Doyle stressed, is the stringent KYC and AML practices that Ripple maintains in any partnership with a top company. In this case, the tokenization of T-Bills on the XRPL would necessitate these KYC and AML practices.

The rigorous screening involved in KYC and AML exercises ensures regulatory compliance and security, which Doyle argues would be a key consideration for top companies looking to tokenize RWAs on the blockchain.

Proceeding to the official OpenEden website, which presents an opportunity for market participants to earn a Treasury yield of up to 5.02% on the blockchain network, Doyle asserted that this is the future of Treasury bills.

However, despite this bullish development, XRP has not seen as much bullish push as anticipated. Following the final ruling in the Ripple lawsuit on August 7, XRP briefly spiked above $0.64 but faced resistance at this high, now trading below the $0.60 psychological price threshold.

Commenting on this, Doyle noted that August is typically a bearish month for the crypto industry. Market data confirms this, with BTC dropping 11.2% in August 2023 and 14% in August 2022. XRP also witnessed declines in August 2022 and 2023. Doyle pointed out that XRP's downturn is due to the ongoing broader market collapse.

According to him, the geopolitical tension surrounding Iran and Israel is one of the major factors contributing to the market crash. He noted that investor angst has increased as global spectators expect war on different fronts, leading market participants out of risk assets.

Despite this, Doyle's optimism remains strong, emphasizing that XRP is not just any token but an asset capable of revolutionizing the cross-border settlement scene. The market commentator compared XRP with SWIFT gpi for cross-border payments, attempting to show that SWIFT gpi is not as innovative as presented.

Notably, SWIFT gpi also deals with pre-funded capital, while XRP does not. The program also takes an average of nine hours to settle, but XRP’s settlement time is nearly instant. In addition, transactions with SWIFT gpi could fail at any time, but XRP’s transactions either succeed or fail instantly.

The only advantage SWIFT gpi holds over XRP is its larger penetration. However, if XRP were to catch up, market experts like Doyle believe its price could benefit greatly from the increased adoption. This contributes to the motivation behind the $10,000 price target, a 1,763,257% increase from XRP’s current price.

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