Analyst from predicts that XRP is going to hit $500
Shannon Thorpe, an analyst at Wells Fargo, has made a bold prediction about the future of XRP. She believes that the price of XRP could skyrocket to as high as $500 in the next four to seven months. This prediction is not based on mere speculation but on a thorough analysis of the market trends and the potential of XRP. Thorpeโs confidence in XRPโs potential stems from its unique features such as fast transaction speed, low fees, and scalability. These features make XRP a strong contender in the crypto market.
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The basis of Thorpeโs prediction is the recent ruling that XRP is not a security. This ruling has brought a positive outlook for XRP in the near term. The classification of a cryptocurrency as a security or not has significant implications on its usage and acceptance. With this ruling, XRP can now be freely traded and invested without the restrictions that come with securities. This opens up a plethora of opportunities for XRP, and according to Thorpe, is a major factor that will drive its price up.
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The XRP community, often referred to as the XRP Army, is more divided than ever. Some members are looking at charts and trends, while others are focusing on utility. The division is not necessarily a bad thing. It shows the diverse perspectives within the community, each contributing to the overall understanding of XRPโs potential. Those focusing on charts and trends provide insights on the market behavior of XRP, while those focusing on utility highlight the practical uses and benefits of XRP.
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Thorpe argues that neither side has been correct in their predictions so far, and neither will be in the future. She believes that the future of XRP lies in its utility. According to Thorpe, the true value of XRP will be realized when it is widely used for its intended purpose – to enable fast, low-cost international money transfers. As more and more institutions adopt XRP for this purpose, its demand will increase, driving up its price.
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Many analysts have given XRP a price target ranging from $1 to $10. However, Thorpe suggests that the tokenโs price would need to be significantly higher if it hopes to compete with systems like SWIFT. SWIFT is currently the standard for international money transfers, but it has its drawbacks such as high fees and slow transaction speed. XRP, with its advantages, has the potential to replace SWIFT. But for that to happen, according to Thorpe, its price needs to be much higher than the current predictions.
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SWIFT handles about 44.8M messages a day. If Ripple, through its 10 years of innovation and partnerships, were able to grab 30% of SWIFTโs value, that would be 2.1T in daily value. This is a huge market for XRP to tap into. With its superior technology, Ripple has the potential to take a significant share of SWIFTโs market. This will greatly increase the demand for XRP, and consequently, its price.
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If XRP reaches a range of $1.00 – $5.00, the total liquidity strength (LS) would be from $100B to $500B. This LS does not account for any growth in the economy. As the economy grows, the demand for money transfers will increase. This will further increase the demand for XRP, adding to its LS. Therefore, Thorpeโs prediction of XRP reaching $500 takes into account not only the current market but also the potential growth in the future.
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Thorpe argues that if one company owned all the XRP, they would have a liquidity strength (LS) from $100B to $500B. This is a hypothetical scenario to illustrate the potential of XRP. If a single company can have such a high LS with XRP, imagine the potential when multiple companies across different industries adopt XRP.
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In reality, there are numerous small investors that hold the token, a portion of the XRP supply has been permanently destroyed (burned), and multiple large banks also have an allocation. This distribution of XRP ensures its stability. With many stakeholders, the risk of price manipulation is reduced. Also, the burning of XRP is a deflationary measure that helps maintain its value.
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If a bank were to send a $750M transaction with an LS of $1.00, that would be roughly 10% of all that bankโs XRP. This shows the efficiency of XRP. Large transactions can be done with a relatively small amount of XRP. This makes XRP attractive to financial institutions that handle large volumes of money transfers.
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Furthermore, there is more than one client, and no one wants to break that $750M into 750,000-$1,000 transactions, each having a burn rate. This highlights the scalability of XRP. It can handle a large number of transactions without losing its efficiency. This is a crucial feature for any cryptocurrency aiming to be used for money transfers.
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In this scenario, one bank holds all the XRP liquidity. But in reality, there are numerous small investors that hold the token. This distribution of XRP among many holders adds to its stability. It reduces the risk of price volatility that is common in cryptocurrencies with a few large holders.
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A portion of the XRP supply has been permanently destroyed (burned), and multiple large banks also have an allocation. The burning of XRP is a deflationary measure that helps maintain its value. The allocation of XRP to large banks shows its acceptance and trust among major financial institutions.
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This prediction by Thorpe has sparked a lot of discussions in the crypto community. Some agree with her, while others are skeptical. This is common with any bold prediction. It is healthy for the market as it encourages debates and discussions, leading to a better understanding of the potential of XRP.
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Regardless of the differing opinions, one thing is clear: the future of XRP is bright, and it will be interesting to see how things unfold. With its unique features and growing acceptance, XRP has the potential to revolutionize the way we transfer money internationally.
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In conclusion, the prediction of XRP reaching $500 is bold and optimistic. Only time will tell if this prediction will come true. But one thing is certain – XRP has the potential and it is on the right path. Whether it will reach $500 or not, XRP is definitely a cryptocurrency to watch out for.
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