A cryptocurrency analyst believes that the price of XRP could rise to between $20 and $30 in the next bull run. The highly optimistic figure is significantly larger than the digital tokens all-time high of $2.7697.
Interestingly, the analyst who made the prediction, Credible Crypto, dismissed prices that go beyond his prediction as unrealistic.
“Keep it real. XRP price IS NOT “predetermined.” XRP IS NOT “backed by gold”. XRP WILL NOT reach the prices BTC has ($10,000+). XRP will NOT replace the dollar. But it doesn’t need to do ANY of these things to make you and me life changing money over the next 3 years.”
For XRP to reach a price close to that of Bitcoin, its market capitalization would have to be in the region of $1,000,000,000,000,000.
Credibly Crypto states that it is “complete nonsense to try to compare the market capitalization of a cryptocurrency with an unrelated asset”.
Real-world use cases have been found for XRP which has served as a significant element in international transfers between banks/financial institutions around the world. However, many are concerned about the risks related to Ripple’s association with XRP.
“Ripple is the saddest & most egregious example of a dishonest, bad faith cryptocurrency project, given its size and duration. Observing this institution-enabled retail money grab continue unabated day in and day out saddens me. I’m optimistic the pendulum will swing in 2020,”
-Mike Dudas
Multiple events in years past have put to question the sustainability of Ripple’s XRP project. The organization has faced several legal and regulatory battles related to its operations.
Many fingers have been pointed at the firm with accusations that it uses XRP as an alternative fundraising scheme. Worries continue to grow about whether or not the firm is exploiting the returns of investors.
The sales of tokens by the Ripple team have led to intense selling pressure which keeps many skeptical about any chances of XRP prices ever rising to as high as $30.
Photo by Linus Nylund on Unsplash
