BlackRock’s RLUSD Adoption Rumors Ignite Bullish XRP Price Predictions

The XRP community is buzzing with bullish price predictions after reports revealed that BlackRock is using Ripple’s RLUSD stablecoin as collateral for its tokenized funds. 

This adoption has sparked widespread discussions within the XRP community, seamlessly linking narratives of institutional involvement with technical analysis that highlights ambitious upside potential. 

Key Points 

• The XRP community has turned bullish following reports of BlackRock’s use of Ripple’s RLUSD stablecoin. 
• The news triggered a surge in XRP-focused technical analysis, with some analysts suggesting a spike to $6-$14. 
• Others issued more bullish projections, with long-term targets ranging from $100 to $1,700. 
• While RLUSD adoption may boost sentiment, the extreme price target implies unrealistic market capitalization levels. 

BlackRock Reportedly Using RLUSD as Collateral 

The speculation emerged earlier this year after Crypto DYL News reported on a document claiming that BlackRock uses RLUSD as collateral for tokenized funds and cross-border payments. 

According to the leaked shareholder update, RLUSD ranks among the top five U.S. dollar stablecoins and operates within Ripple Prime as an off-ramp for tokenized assets, including BlackRock’s BUIDL.

Since then, the viral document has gained widespread traction on X. Proponents cite BlackRock’s reported use of RLUSD as evidence of rising institutional engagement with Ripple’s ecosystem. 

Viral XRP Predictions Amid BlackRock’s RLUSD Adoption 

The news of BlackRock’s adoption of RLUSD has fueled a wave of technical analyses within the XRP community. Analysts such as Korean Elliott Wave expert XForceGlobal project medium-term XRP targets between $6 and $14. 

Meanwhile, other commentators propose far more speculative long-term targets, ranging from $100 to $1,700, based on breakout patterns and historical cycles. Pseudonymous analysts Remi Relief and Bird are among those predicting XRP could surpass $1,000, with Remi calling $1,700 his conservative estimate.

Assessing the Feasibility 

XRP currently trades around $1.91, meaning any of these price targets would transform the token’s landscape. The $6 target appears attainable, requiring a 214% rally from current levels. 

In contrast, reaching the $1,700 mark would demand an extraordinary 88,900% surge, highlighting the extreme speculation behind such forecasts. 

At that level, XRP’s market capitalization would soar to $103.46 trillion, given its 60.86 billion circulating tokens, outpacing the combined valuations of the global crypto market and even gold and silver together. 

Consequently, while BlackRock’s use of RLUSD as collateral may boost sentiment, the likelihood of XRP hitting $1,700 remains extremely low.