Determined by the input of Linqto that XRP may hit $1000 per token, it has caused a stir in the crypto market.
The value of XRP has relationships with conditions that include the ongoing legal case by SEC and use of tokens by banks.
Some argue that an initial price of $1,000 means an impossible market capitalization without having millions of users across the globe.
The conversation that has recently started as a result of Linqto – a company focused on pre-IPO investments – has stirred the crypto community. Statements made by the company that XRP, one of the most recognized cryptocurrencies in the world, could reach $ 1,000 per token to buy or sell have caused debates among buyers / sellers. As some people state, it is feasible to make such an estimation, knowing that blockchain is gaining popularity, others do not believe in the possibility of such an idea.
The Speculation Over XRP's Future Value
XRP has always been an unpopular coin, especially because of the SEC lawsuit against it.Despite these challenges, XRP has maintained a strong position in the crypto market, often ranked among the top ten cryptocurrencies by market capitalization. Predicting for XRP to hit $1,000 per token as proposed by Linqto has also elicited positive and negative responses within different segments of the market.
https://twitter.com/UniverseTwenty/status/1839586167702118517
While supporters said that demand from cross border payments and FI could push up XRP, skeptics shuddered at the market capitalization that would entail. As per some analysts, there are certain thresholds that may be almost impossible to break without cross border adoption and if XRP were to reach that far $1,000, its market cap would be in trillions.
Factors That Could Drive XRP's Price
Several things could determine if XRP would get to that high valuation level or not in the future. One of them is the result of the Ripple legal trial with the SEC. If the court sides with Ripple on this issue, this could create the chance for other institutions to join and use XRP and therefore making the demand and therefore the price rise.
Nonetheless, utility arising from adoption by financial institutions together with an expansion of Ripple payment processing system could generate the demand.But there is also a possibility that competition among the cryptocurrencies and the regulatory policy may also have a great impact on where the XRP currency may be in the future.
As debates about the intended use of XRP persist, the token is yet to be seen if it will hit the $1,000 mark. While some investors still have faith in this prediction, others are a little skeptical, not to argue that they do not know that such predictions depend on a variety of economic and regulatory factors that may determine the fate of XRP in the future.
The post Linqto’s $1,000 XRP Forecast: What’s Driving This Bold Claim? appeared first on Crypto News Land.
