Can You Become A Crypto Millionaire With Just $27 In XRP?
This article was paid for*
The cryptocurrency market is on the verge of a major bull run. Unsurprisingly, investors are searching for high-potential tokens that can turn them into millionaires during this bull cycle.Â
However, could XRP be that token, despite its large market capitalization?
A 2023 study from Valhil Capital on XRPâs fair market value is doing the rounds on social media. According to this study, the XRP price â without the SECâs lawsuit against Ripple â could have been anywhere between $9.81 to $513k.Â
With the lawsuit between Ripple and the SEC in its final stages, this study is back in the spotlight, with investors wondering if they can turn their small-scale investments into millions with XRP.Â
Is The XRP Price Headed To $513k?
The Valhil Capital study claimed that the SECâs lawsuit against Rippe has âharmed retail investorsâ, owing to the significant decline in its value since.Â
Valhilâs Valuation Committee built six different models to compute the Fair Market Value of XRP. As previously mentioned, the models came up with wide-ranging XRP price projections, ranging from $9.81 to $513k.Â
16. To our knowledge, no other analysis of this scope has been done in the digital assets space.
A diverse team (w/a variety of professional backgrounds) came together as volunteers to build a series of quantitive models to understand the value drivers for a digital currency. pic.twitter.com/XuDlNwPd2i
â Molly Elmore (@mollyelmore22) June 7, 2023
Excluding the two outliers, the maximum projected price for XRP came out at $21.9k. If true, this would mean over 36600x returns from its current price of $0.60. This would require investors to hold just $27 in XRP to reap over $1 million in profits.Â
However, simple mathematics proves that the figures projected by Valhilâs study are simply impossible.Â
XRPâs current market capitalization stands at $35 billion while it is currently trading at just above $0.60. Even a price of $1000 would put the tokenâs market valuation at $58 trillion. Without global hyperinflation, such as high market cap is simply out of XRPâs reach.Â
In reality, XRP has been one of the underperformers of this bull cycle, despite Ripple scoring several key victories over the SEC. Even after Judge Torres ruled that XRP is not a security, its price failed to reach $1 and hit a local top at $0.85.Â
Donald Trumpâs pro-crypto stance has brought much-needed respite for the altcoin. In his Bitcoin Conference speech, Trump recently promised to fire Gary Gensler from his role as the SEC Chairman.Â
Consequently, a Trump presidency could reduce the likelihood of the Commission appealing Judge Torresâs ruling, giving a major boost to XRP.Â
However, it remains unclear whether the token will even reach its all-time high of $3.80, considering that cryptocurrencies â including low-cap gems â are showing much higher strength and are stealing the attention away from XRP.Â
How To Become A Crypto Millionaire In The Next Bull Run?
Large-cap cryptocurrencies such as Bitcoin and XRP can only offer limited returns, especially in the short term.Â
On the contrary, several small-scale investors earned millions in profits during this yearâs first-quarter bull run, simply by investing in low-cap gems early. Experts believe that this phenomenon could repeat in the coming weeks, especially during the broader crypto market bull run.
Unsurprisingly, low-cap tokens and presale cryptocurrencies are surging in demand. For instance, a new meme coin Pepe Unchained (PEPU) has raised over $6.3 million in its ongoing presale.Â
Pepe and other frog-themed meme coins show a high correlation with Ethereum and are therefore expected to deliver high returns in the coming months.Â
However, Pepe Unchained has managed to separate itself from the crowd, thanks to its native Layer-2 blockchain. This chain will offer low trading costs and high staking rewards to PEPU holders, which could attract high retail investment into it.Â
Some popular crypto traders even believe that Pepe Unchained could offer 50x to 100x returns after its launch.Â
Visit Pepe Unchained Presale
*Cryptonomist did not write the article or test the platform.
XRP to $1,000? Analyst Cites JP Morgan $10 Trillion Daily Volume
The potential for XRP to reach a price of $1,000 has been a persistent topic of discussion within the cryptocurrency community. This speculation is often fueled by the belief that XRP is undervalued and has the potential for significant growth due to its utility in cross-border payments. A recent comment from Amelie (@_Crypto_Barbie, a prominent figure in the XRP community, reignited this conversation. Amelie emphasizes the theory of XRP being largely undervalued, highlighting the vast potential for XRP to process large volumes of cross-border transactions. To support her argument, she cites comments made by JPMorgan CEO Jamie Dimon regarding the bankâs daily transaction volume. JPMorgan, a leading financial institution with a global reach, processes a staggering $10 trillion daily in cross-border settlements. This immense volume shows the need for efficient and cost-effective solutions in the international payments landscape. Proponents of XRP believe that the XRPL, with its inherent advantages in speed and cost compared to traditional systems, could capture a significant portion of this market share. XRPâs Immense Potential Increased adoption of the XRPL would directly translate to greater utility for XRP. XRP is arguably the best option for cross-border payments and is significantly faster and cheaper than current alternatives. Michael Arrington, founder of Arrington Capital, recently revealed that his company performed a $50 million transfer with XRP. Interestingly, this transaction cost $0.3 and took 3 seconds, showing the unrivaled power of XRP. Interestingly, JPMorgan has also acknowledged the potential of Ripple, the company behind XRP, to unlock a substantial amount of trapped liquidity in cross-border payments, estimated at roughly $120 billion. If XRP were to become widely adopted for such transactions, it could conceivably command a much larger daily trading volume. Building on this notion, Mason Versluis, a prominent figure within the XRP community, presented a hypothetical scenario outlining XRPâs potential price based on various daily cross-border payment volumes. Versluisâ analysis suggests that XRP could theoretically reach $1,000 if it processes $20 trillion in daily settlements with a specific liquidity pool supply. It is crucial to recognize that such projections are speculative and contingent on a multitude of factors. Achieving widespread adoption within the established financial system is a complex undertaking. However, as the global financial system expands and countries and people seek cheaper and faster alternatives for cross-border payments, the XRPL and XRP stand to benefit greatly. â ïžDisclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #XRP #Ripple
Ripple CEO Blasts Market for Ignoring XRP, Analyst Predicts Price Explosion to $1000
The post Ripple CEO Blasts Market for Ignoring XRP, Analyst Predicts Price Explosion to $1000 appeared first on Coinpedia Fintech News
Ripple CEO Brad Garlinghouse has voiced his frustration over the lack of recognition for XRP in the crypto market. In spite of its regulatory clarity in the U.S., XRPâs value below $0.5 sparks frustration and negative sentiments, with some calling it a âdead coinâ.Â
This frustration arises from XRPâs status as one of the worst-performing crypto assets in the current bull market.Â
Ripple CEOâs Question XRPâs Position
In a recent interview at the XRP Ledger Apex conference, Brad Garlinghouse highlighted XRPâs distinct regulatory advantage. Unlike many other cryptocurrencies, XRP is one of the few in the U.S. that has been definitively ruled not to be a security.Â
After the court ruling in July 2023, XRPâs price soared by over 100% within 24 hours, reaching a peak of $0.93. However, this spike was short-lived, and XRPâs value has since fallen from its July high.
Despite being relisted on major U.S. exchanges like Coinbase, Gemini, Crypto.com, and Kraken, as well as being reinstated in Grayscaleâs investment products, XRPâs value has since dropped by approximately 50%.
Garlinghouse expressed his surprise that the market hasnât rewarded XRP for its regulatory clarity. He differs XRPâs position with Ethereum (ETH), which still faces regulatory uncertainty. âI think itâs strange that XRP is in such a unique position, and the market hasnât kind of rewarded it.â
XRP Journey From $1 to $1000
Notably, Pro-XRP crypto commentator BarriC recently shared his thoughts on XRPâs potential, suggesting that its current underperformance is only temporary. He predicts that when XRP regains the $1 price point it lost three years ago, the communityâs reaction will likely be quiet.
$XRP at $0.51 = frustration, itâs a joke, itâs dead$XRP at $1 = itâs only $1?! Let me buy more meme coins$XRP at $3 = pathetic ATH $XRP at $5 = confusion from the masses. Why is it starting to move?$XRP at $10 = FOMO starts manifesting, people will still be in denialâŠ
â BarriC (@B_arri_C) June 13, 2024
Till the time XRP nears $5, BarriC believes that the fear of missing out (FOMO) wonât truly kick in until it hits $10.
At the $100 mark, he argues, people will start to see XRPâs utility in payments and real-world asset (RWA) tokenization, which will drive more investment interest. Finally, if XRP reaches $1,000, BarriC speculates that the crypto community will view XRP as essential, with people even saving up to buy one XRP at that price.
Analyst Identifies 4 Events Propelling XRP Price to $59873
Legal issues with the SEC have caused problems for XRP in recent years, making investors unsure and affecting its performance. Yet, some investors still believe in XRPâs potential. Supporters argue that XRP is undervalued, and some analysts, like prominent figure KingXRP (@MRKingXRP), have set ambitious price targets based on anticipated future surges. Here are some key factors outlined by KingXRP that could contribute to XRP reaching these targets. Legal Battle Impacting XRP Price A significant factor affecting XRPâs price is the ongoing legal dispute between Ripple, the company behind XRP, and the SEC. The lawsuit was initiated when the SEC alleged that XRP was an unregistered security. However, in July 2023, the judge ruled against this claim, stating that XRP itself was not a security, and sales to non-institutional investors did not constitute securities offerings. The lawsuit has progressed to the remedies phase, where both Ripple and the SEC are presenting arguments regarding the appropriate penalty for Ripple if the court favors the SEC. While a prominent legal expert has predicted a potential $100 million penalty for Ripple, there are speculations among industry observers about the possibility of a settlement. Such a significant development could lead to a notable increase in XRPâs price. Analyst KingXRP has suggested that an announcement of a settlement could drive XRPâs price up to $18.57, representing a substantial surge from its current level. This indicates that market sentiment regarding the legal outcome and the potential for resolution through a settlement could heavily impact XRPâs price trajectory. Rippleâs Potential for Growth and XRP Price In its infancy, XRP garnered attention as a potential solution for improving cross-border payments efficiency within the banking sector. Rippleâs strategic partnerships with financial institutions further strengthened this perception. However, the SECâs lawsuit against Ripple created uncertainties, prompting many banks to distance themselves from XRP due to fears of regulatory repercussions. Despite these challenges, Rippleâs partnerships with international banks continue to grow. With the prospect of the SEC lawsuit being resolved, Ripple could potentially enhance its presence within the U.S. market. Such developments could significantly boost XRPâs price. Analyst KingXRP envisions a scenario where Rippleâs expanding partnerships and regulatory clarity could drive XRPâs price to $257.21. This suggests that overcoming regulatory hurdles and expanding partnerships could be pivotal factors in propelling XRPâs value upwards. Rippleâs Potential Price Catalysts Speculation Surrounding Ripple IPO: The possibility of a Ripple Initial Public Offering (IPO) has been a consistent topic of discussion within the XRP community, with many foreseeing it as inevitable in the long term. Analyst KingXRP predicts that an IPO announcement could trigger a substantial price increase, potentially driving XRPâs value to $3,748.34. CBDC Integration and Price Projections: XRPâs potential as a bridge currency for facilitating transactions between various Central Bank Digital Currencies (CBDCs) has garnered attention from central banks worldwide. Some experts even project XRPâs value to reach $10,000 as a CBDC. According to KingXRP, successful integration as a CBDC could lead to an extraordinary surge in price, reaching an astonishing $59,873.18. These projections highlight the significant impact that Rippleâs potential IPO and integration as a CBDC could have on XRPâs price trajectory. â ïžDisclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #XRP #Ripple
XRP to $1,000? Crypto Proponent Shares What Could Make it Happen
XRPâs price is always a cause for speculation in the community. However, a recent analysis by a community figure has taken the discussion to a new level. Mason Versluis (@MasonVersluis) shared the XRP liquidity cheat sheet, showing XRPâs price depending on the cross-border payment volume it would need to handle daily. XRPâs Role in Streamlining Cross-Border Transactions XRPâs core function lies in facilitating international payments. Rippleâs On-demand Liquidity (ODL) product leverages XRP outside the U.S. to offer faster and more cost-effective settlements compared to traditional methods. This functionality has garnered significant attention from financial institutions. For instance, Grayscale highlighted XRP as a viable alternative to SWIFT, the dominant system for cross-border payments, in a November 2023 report. Similarly, a December 2023 report by JPMorgan recognized XRPâs potential to unlock a substantial portion of the estimated $120 billion trapped in inefficiencies within the cross-border payment system. Notably, even the Chair of the US Securities and Exchange Commission (SEC), Gary Gensler, has previously expressed his view that XRP offers advantages over traditional fiat currencies for international transactions, and major institutions like the IMF, the World Bank, and more have recognized XRPâs potential in various reports. Potential for Growth in the Cross-Border Payment Market This recognition of XRPâs utility has fueled investor optimism about its potential for significant price appreciation, particularly considering the projected growth of the cross-border payment sector. Financial experts believe that if XRP captures even a fraction of this projected growth, its price would likely rise considerably from its current position. Can XRP Reach $1,000? According to Versluisâ XRP liquidity cheat sheet, XRP prices ranging from $100 to $500 could potentially support daily payment volumes of up to $1 trillion. However, these price points become less realistic for volumes exceeding $6 trillion to $20 trillion. This is because XRPâs current circulating supply of approximately 55 billion tokens would be insufficient to handle the vast number of XRP needed to settle such high volumes. Financial expert Shannon Thorpe previously argued that a price of $500 would undervalue XRP if it were to capture a significant portion of the projected $250 trillion cross-border payment volume predicted by the Bank of England. Versluisâ analysis suggests that for XRP to efficiently manage daily volumes between $1 trillion and $20 trillion, its price would need to reach at least $1,000. At this price point, only 1 billion XRP tokens would be required to settle a $1 trillion daily volume and 20 billion tokens for a $20 trillion volume. â ïžDisclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #Ripple #XRP
There are a few possible reasons for the recent jump in XRP price:
Optimistic predictions: A cryptocurrency expert, EGRAG, has made a positive prediction for the price of XRP, suggesting a possible 700% jump to $4
XRP Unlocking: According to on-chain market data, a total of 400 million XRP was unlocked from escrow, which may have influenced the price.
Legal developments: Documents relating to William Hinman, former director of the US Securities and Exchange Commission's (SEC) Division of Corporate Finance, have been released to the public in connection with the SEC's lawsuit against Ripple Labs. Hinman suggested in his 2018 speech that bitcoin (BTC) and ether (ETH) were not securities, in his view.
Ripple Labs claims that Hinman's comments at the time mean that XRP should not be considered a security, which could result in a favorable outcome for the company.
This Altcoin Will Soon Join the Party: While XRP Price is Poised to Hit $2 in 2024
Story HighlightsThe XRP price is close to breaking above the multi-year consolidation phase, which may eventually trigger a healthy upswingMeanwhile, the Litecoin bulls are trying hard to keep up the bullish momentum, which may propel the prices beyond $100 in no timeNo sooner than the Bitcoin price achieved new highs at $69,000, the crypto markets were flooded with huge buying volume. Nevertheless, it remained for a very restricted time frame as the altcoins had a strong pullback, despite experiencing a minor bullish push. Among them are some tokens like Ethereum, which sustained strongly, while others like XRP and Litecoin (LTC) faced major drawbacks.However, both tokens continue to remain at the foothills of an explosion, which may propel the prices beyond interim resistance. The XRP price is trying to breach the upper resistance despite multiple failed attempts. The current trade set-up indicates the price may again face a minor pullback as the technicals turn bearish. The weekly chart suggests price trading within a decisive symmetrical triangle, while the token is still distinct from its apex. RSI is displaying a bearish divergence, while DMI is also not favouring the bulls. However, after the recent pullback from $0.66 to $0.54, the price has reclaimed $0.6, which suggests the bullish momentum will prevail.Hence, the XRP price may consolidate along the resistance for a couple of weeks, beyond which a healthy rebound could lift the price above $0.7 initially and later to $0.8. Once the price settles above $1, the XRP price is believed to head towards higher targets, probably above $2. Meanwhile, Litecoin appears to be a step ahead of XRP as the price has breached the resistance and also completed the retracement, making it ready for the upcoming explosion.The Litecoin price is undergoing a minor retracement after piercing above the upper resistance of the decisive symmetrical triangle. Although the RSI is bearish, the resistance-tuned support may offer the required base to trigger a healthy rebound. Therefore, the LTC price is believed to maintain a fine upswing in the coming days as the volume remains within decent levels.@Crypto_Lina $XRP $LTC
Analyst Sees Last Chance to Buy XRP At $0.60, Predicts Rally
Ben Armstrong believes now could be the last chance to buy XRP at its low price range.
He predicts XRP could reach $1 or revisit the $2 range before Bitcoinâs halving.
XRP battles bearish volatility, crashing by over 8% to 0.6017 in the last 24 hours
With XRP at $0.6017, well-known crypto analyst Ben Armstrong argued that now could be the last chance to join the XRP train at this low price range. Armstrong voiced this sentiment in a recent video analyzing the various tokens with potential for the fast-growing bull market.
At press time, XRP battled bearish volatility, crashing by over 8% in the last 24 hours. Meanwhile, Armstrong noted that he is anticipating an explosive rally for XRP that could shock market participants. He asserted that upon XRP reclaiming the $0.70 mark, the stage is set for a further surge to the $1 threshold.Â
Furthermore, Armstrong speculated on three potential scenarios for XRP leading up to the highly anticipated Bitcoin halving, approximately 40 days away. In his first projection, Armstrong suggested that XRP might revisit its all-time high of $3.84 before the April halving, although his confidence in this outcome remains moderate.
On the other hand, Armstrong proposed that XRP could test $2 before the Bitcoin halving event if it falls short of reclaiming its all-time high. His third scenario posits that XRP must at least reach the $1 target before Bitcoin halves. Considering XRP trades at $0.6017, attaining $1 requires about 66.1% gains.
Meanwhile, Armstrong depicted a bleak outlook for the crypto market leading up to the halving event. He indicated the potential for one or two weeks of downward momentum preceding the halving, implying that the current bullish trend might culminate around the end of March, coinciding with the close of the yearâs first quarter.
Following the projected bearish trend, the analyst noted that market participants could anticipate more substantial gains before the bull season concludes next year.
The post Analyst Sees Last Chance to Buy XRP at $0.60, Predicts Rally appeared first on Coin Edition.
XRP Ready for Mind-Blowing Takeoff to $3 As XRPâs Role in Revolutionizing Banking Sector Is Trump...
Brad Garlinghouse, the chief executive officer of Ripple, has revealed the groundbreaking role of XRP in significantly disrupting the traditional banking system.
XRP Can Be Used To Settle $27 Trillion Liquidity
XRP has the potential to transform the multi-trillion-dollar banking industry.
In a recent interview with CNBC, Ripple CEO Brad Garlinghouse noted that the San Francisco-based payments startup currently uses the XRP token âas a tool to settle liquidity needs between banksâ. According to Garlinghouse, there is a whopping â$27 trillion presently held by different banks in the world to carry out payments between each other.â
BOOOOOOOOOOOOOOOOOOM!!!!CEO of @Ripple â Brad Garlinghouse:"$27 trillion of worth of liquidity is held at banks as liquidity, #XRP will solve that issue!"Did you miss #Bitcoin? Don't miss XRP! pic.twitter.com/ExAqTNkdKL
The executive believes utilizing XRP to perform these interbank transactions can transform the sector. This is due to the fact that XRP facilitates real-time, low-cost, and efficient transactions, compared to traditional banking methods.
Banking institutions must keep substantial reserves under the legacy system that Garlinghouse highlights so as to enable streamlined international transactions. XRP makes this process seamless by reducing the settlement time to a mere three seconds.
Garlinghouse also indicated that the viability of a crypto asset in the long term is determined by its utility in the real world. The Ripple boss then cited several factors to consider, such as the problem the cryptocurrency is solving, the size of the problem being addressed, and how many customers it currently boasts.
When Will XRP Retake $3 Milestone?
XRP has noticeably failed to rally as much as its peers in the latest crypto market upswing. Currently ranked sixth on the crypto leaderboard, XRP currently boasts a market cap of $33.3 billion, according to CoinGecko data
At its current price of $0.61, XRP is seeing its highest point since the start of 2024, suggesting that investors are still optimistic about the tokenâs prospects. However, the journey toward higher price points is hampered by the formidable resistance at the $0.7 level.
XRPâs ability to break past this threshold conclusively is paramount for sustaining bullish momentum. This simply means that XRPâs journey to the elusive $3 zone is dependent on the assetâs ability to push through the critical resistance at $0.7. Failure to do so may signify a lack of confidence in the token, potentially triggering a correction.
Analyst Sees Last Chance to Buy XRP At $0.60, Predicts Rally
Ben Armstrong believes now could be the last chance to buy XRP at its low price range.
He predicts XRP could reach $1 or revisit the $2 range before Bitcoinâs halving.
XRP battles bearish volatility, crashing by over 8% to 0.6017 in the last 24 hours
With XRP at $0.6017, well-known crypto analyst Ben Armstrong argued that now could be the last chance to join the XRP train at this low price range. Armstrong voiced this sentiment in a recent video analyzing the various tokens with potential for the fast-growing bull market.
At press time, XRP battled bearish volatility, crashing by over 8% in the last 24 hours. Meanwhile, Armstrong noted that he is anticipating an explosive rally for XRP that could shock market participants. He asserted that upon XRP reclaiming the $0.70 mark, the stage is set for a further surge to the $1 threshold.Â
Furthermore, Armstrong speculated on three potential scenarios for XRP leading up to the highly anticipated Bitcoin halving, approximately 40 days away. In his first projection, Armstrong suggested that XRP might revisit its all-time high of $3.84 before the April halving, although his confidence in this outcome remains moderate.
On the other hand, Armstrong proposed that XRP could test $2 before the Bitcoin halving event if it falls short of reclaiming its all-time high. His third scenario posits that XRP must at least reach the $1 target before Bitcoin halves. Considering XRP trades at $0.6017, attaining $1 requires about 66.1% gains.
Meanwhile, Armstrong depicted a bleak outlook for the crypto market leading up to the halving event. He indicated the potential for one or two weeks of downward momentum preceding the halving, implying that the current bullish trend might culminate around the end of March, coinciding with the close of the yearâs first quarter.
Following the projected bearish trend, the analyst noted that market participants could anticipate more substantial gains before the bull season concludes next year.
The post Analyst Sees Last Chance to Buy XRP at $0.60, Predicts Rally appeared first on Coin Edition.
TerraClassicUSD Jumps 10% Following USTC Burning Decision
On February 26, 2024, the Terra Luna Classic community approved the proposal to burn 800 million USDT tokens, leading to an impressive 11% surge in the USTC token price. However, these significant decisions from the Terra Luna Classic community happened at a time when top cryptocurrencies like Bitcoin, Solana, Cardano, and many others were experiencing a price correction.
Why Terra Luna Classic (USTC) soar?
The Terra Luna Classic community approved Proposal 12073, which will allow the burning of a significant 800 million TerraClassicUSD (USTC) tokens, worth around $32 million, from the Risk Harbor multi-sig wallet. Before deciding on this massive proposal, members of the Terra Luna Classic community likely engaged in discussions, and debates, and exchanged opinions to carefully weigh the pros and cons of the proposal.
During the discussion regarding the proposal of burning 800 million USTC, it passed with 41% in favor, 33% not voted, and 18% voting âNo,â while 8% of the community members opposed a âNo with vetoâ stance. However, among the 58 validators, 42 voted in favor, 11 did not vote, and 5 opposed, with a significant refusal to vote from the validator Allnodes.
The burn execution involves migrating the specified USTC amount from Risk Harborâs multi-sig wallet to a new code version through a contract migration proposal. This means a specific amount of USTC will be held in a wallet before significant burning. The migration handler will manage processes, including tax considerations, ensuring the blockchainâs state remains unchanged, as highlighted by former Joint L1 Task Force (L1TF) developer Fragwuerdig.
USTC price performanceÂ
Initially, following this decision, the USTC price experienced a 25% surge, however, in the past few hours, the gain retraced. The communityâs decision reflects a commitment to proposed methods and broader objectives outlined in proposals 11832, 11660, and 11710, highlighting a strategic approach to managing and utilizing the Terra Luna Classic ecosystem.
As of writing, TerraClassicUSD (USTC) is trading near $0.035, and in the last 24 hours, it experienced over 10% upside momentum. However, USTC also reached an intraday high of $0.041. If we look at the USDT performance over a longer period, in the last 7 days, it experienced over 7.5% of upside momentum, whereas, in the last 30 days, it witnessed over 34% of upside momentum.
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Citi Bankerâs XRP Prediction Faces Criticism Over $500 Price Target
The post Citi Bankerâs XRP Prediction Faces Criticism Over $500 Price Target appeared first on Coinpedia Fintech News
Shannon Thorp, an Operational Specialist at Citi, is under scrutiny from the crypto community after her bold prediction that XRP could surge to $100 to $500 within seven months has not come to fruition.
Countdown to Disappointment
In a recent post, user âScam Detectiveâ drew attention to Thorpâs ambitious forecast, noting that thereâs only about a week left before her projected timeline concludes. Despite the anticipation for XRP to trade between $100 and $500, the cryptocurrency is currently struggling around $0.5369.
Shannon has less than 10 days for her price prediction of $100-$500 near short term (4-7 months). Do you think #XRP will pump 18,500% in the next few days?This post was seen by more than 1.7 million ppl &the fact that she worked for a bank lent credibly to her poor prediction. https://t.co/Racyk1d9Zz
â ⌠ScamDaddy (@ScamDetective6) February 22, 2024
Scam Detective sarcastically questioned the possibility of XRP experiencing an 18,500% surge within the next few days to meet Thorpâs prediction.Â
Despite being viewed by over 1.8 million people, Thorpâs post has let down many in the community. Initially seen as credible because of her association with a major financial institution, her unfulfilled prediction has now raised doubts.
XRP To $500 â Doubtful Target
Thorpâs analysis challenged the conventional methods of predicting XRPâs future price. She argued against the reliability of historical trends and criticized approaches based on utility and Ripple partnerships.Â
People have long asked what will be the price of $XRP, when will this âutilityâ come? In my opinion, now more than ever I see a divided #XRPArmy! One side looking at only charts, taking cues from the past and trends that follow Bitcoin to draw short term price predictions. WhilstâŠ
â Shannon Thorp (@thorpshannon87) July 29, 2023
Instead, Thorp emphasized that XRPâs current supply needs a higher valuation to meet the demands of financial institutions settling cross-border payments effectively, especially considering the multi-trillion dollar valuation of the cross-border payment market.
Although the bankerâs forecast of $100 to $500 was grounded in her belief that XRPâs current valuation was insufficient for the demands of the market it aimed to serve. Despite facing criticism, Thorp asserted that her $500 projection was a conservative estimate and stood by her analysis.
A Questionable Surge
As of now, Thorp has not provided an updated response on her $500 projection. With XRP currently trading at $0.5409, achieving a $500 valuation within the next seven days would require an improbable 93,027% surge in the assetâs price.Â
However, the significant gap between the predicted and actual value has fueled community discussions, questioning the feasibility of such a surge in the given timeframe.
$BTC It's officially game over for retail HODLers.... ETF's are gobbling up 10,000 bitcoin per day.
If ETF's are gobbling up 10,000 bitcoins per day and there are only 21 million, that means it will only take them 2,100 days to buy every single bitcoin in the world. It's game over for the retail investor.... bitcoin might never come back down to this 50k range ever again :( It's growing too fast. If you are not at a whole coin now, there might be a chance you may never get there :( It's growing way too fast...... and if you sell, the ETF's will just buy your bitcoin and never give it back. This might be the biggest cycle of all time #Write2Earn #TradeNTell #BTC @crypto_MOJ news
Rippleâs XRP Designated Stablecoin By World Bank
The World Bank has formally designated Rippleâs native cryptocurrency, XRP, as a stablecoin. This classification signals a significant milestone for Ripple and its digital asset, affirming its increasing acceptance and functionality within the global financial sphere. The recognition came following discussions sparked by a tweet from a prominent Ripple supporter, further elaborated upon by insights from Sean McBride, a former director at Ripple.
Validation of Rippleâs strategic vision
Sean McBrideâs reaffirmation of XRPâs utility and Rippleâs strategic direction underscores the companyâs commitment to positioning XRP as a dependable medium for cross-border transactions. Despite speculation surrounding Rippleâs potential issuance of a new stablecoin, McBrideâs emphasis on the World Bankâs recognition of XRP as a stablecoin solidifies Rippleâs efforts and hints at XRPâs potential evolution into a stablecoin in the future.
The World Bankâs classification of XRP as a stablecoin has sparked debates and speculations within the cryptocurrency market. Analysts note that XRP Ledgerâs plans to introduce a stablecoin might influence the World Bankâs stance. Rippleâs decision not to launch a liquid stablecoin on the XRPL in recent years has reignited discussions, with speculation suggesting that Rippleâs focus on positioning XRP as a bridge currency for Central Bank Digital Currencies (CBDCs) may have influenced this strategic choice.
Implications for Ripple and the cryptocurrency market
The World Bankâs recognition of XRP as a stablecoin carries significant implications for Ripple and the broader cryptocurrency ecosystem. It enhances XRPâs credibility and underscores the evolving nature of digital currencies and their potential to reshape the global financial landscape. Rippleâs pivotal role in these developments positions the company at the forefront of discussions surrounding cross-border payments and the future of digital currencies. As debates continue, stakeholders across the financial spectrum will closely monitor Rippleâs strategic decisions and the trajectory of XRP within the cryptocurrency market.
The post Rippleâs XRP designated stablecoin by World Bank first appeared on Coinfea.
đBREAKING: World Bank officially crowns #XRP as a stablecoin!đ A huge milestone for #Ripple, this recognition boosts XRP's credibility & hints at its potential evolution into a stablecoin in the future.đ
Former Ripple director Sean McBride confirms XRP's utility & strategic direction, squashing rumors of a new stablecoin issuance.đź
What does this mean for Ripple & the crypto market?đ€ It puts XRP in the spotlight for cross-border payments & digital currency discussions.đĄ
Share your thoughts on this game-changing news in the comments below!đ And remember, if it's not about blockchain, just say "This article is irrelevant."đ #cryptocurrency #blockchain
Hedera Hashgraph (HBAR) Price Forecast: a Journey Towards New Heights
In the dynamic realm of cryptocurrency, where every digital coin seems to be vying for the spotlight, Hedera Hashgraph (HBAR) stands as a resilient contender. With its innovative blockchain technology and promising potential, HBAR has captured the attention of investors and enthusiasts alike. As we embark on a journey through the evolving landscape of digital assets, letâs delve into the forecast for HBARâs price trajectory from 2024 to 2033.·
For the full story, head over to TheCurrencyAnalytics.com.