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A bullish outlook for Ripple's XRP to reach $8 in the long term is resurfacing. However, analysis suggests that for this to materialize, key conditions such as institutional capital inflow and expanded real-world usage must be met.
According to crypto media outlet Benzinga on April 20 (local time), XRP bulls are presenting a mid-to-long-term upward scenario based on its entry into the Japanese payment market and increased institutional investment.
The most notable change is the Japanese market. SBI Ripple Asia, a joint venture between Ripple and SBI Holdings, has been registered as a prepaid payment instrument issuer under Japan's Payment Services Act. This platform is designed to tokenize Japanese Yen-based prepaid balances for use on the XRP Ledger.
The size of Japan's prepaid payment market is estimated at approximately 30 trillion yen annually. With tourism company Tobu Top Tours issuing payment tokens that can be used in hotels, transportation, and tourist attractions, the possibility of expanding real-world use cases is also being raised.
Institutional capital inflow is also considered a positive sign. Goldman Sachs expanded its market participation by disclosing an XRP spot ETF position worth approximately $153.8 million. The proportion of major institutional investors is rapidly increasing.
However, price forecasts are mixed. Standard Chartered's Geoffrey Kendrick once set a target price for XRP at $8 but lowered it to $2.80 due to slowing ETF capital inflows. Nevertheless, he maintained long-term upside potential, mentioning the possibility of reaching the $12 range by 2028.
The market also views ETF fund flows as an important variable. Bitwise Chief Investment Officer Matt Hougan assessed that funds continue to flow into XRP-related investment products despite the overall unstable market environment.
However, a lack of macroeconomic liquidity is cited as the reason why the price is not reacting immediately. Some market participants suggest that the passage of the U.S. cryptocurrency market structure bill (CLARITY) could act as a major catalyst.
On the other hand, there is also skepticism about regulatory expectations. Many believe that even if the bill passes, it may not directly lead to an increase in XRP's price.
Ultimately, the dominant analysis is that for XRP to reach $8, three conditions must be met simultaneously: expanded real-world usage in the payment market, sustained institutional investment inflow, and improved macroeconomic liquidity.
Currently, the market is in a phase where optimism and caution coexist. Whether XRP can secure a substantial demand base is expected to be a key variable determining its future price direction.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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