If Ripple Beats The SEC, The Price Of XRP Might Be Quadruple

May

5

0 comments

According to the average projection of a panel of experts examined by the comparison website Finder.com, the rate of Ripple-affiliated XRP may be valued at as much as USD 2.55 by the end of the year if Ripple wins its ongoing court fight with the US Securities and Exchange Commission (SEC).

XRP, which is positioned 7th by market capitalization, was selling and buying at USD 0.638 at 10:36 UTC, up 3% in a day and down 2% in a week. It also dropped by 23% in a month and by 54% in a year.

The result of Ripple and its creators’ legal struggle, according to the team, will be essential for XRP’s survival as an asset. The panel is made up of insiders from the crypto and fintech industries, as well as members from academia.

Many responders showed positivity for the XRP coin if Ripple wins the case, saying that it might play a more significant role in how financial firms move money across borders. However, if the company fails, there would be significantly fewer use cases for XRP, according to some of the panelists.

As per the panelists’ average price predictions, if Ripple wins the case, XRP could attain USD 2.55 by December this year. Moreover, the panelists expected that USD 3.61 would be a likely price by 2025 and USD 2.98 by 2030.

XRP has a strong probability of growing this year, according to Matthew Harry, the head of funds at crypto asset management DigitalX Asset Management, if Ripple succeeds in its current court battle. However, he thinks XRP is ultimately “worthless” in the long run:

“For anything besides speculation, the XRP token is worthless.” The technology involved is brilliant, but the token itself has no practical purpose; it merely draws speculators due to its low cost and easily digestible value proposition – none of which is reflected in the token.”

Similarly, Daniel Polotsky, the founder and chairman of bitcoin ATM provider CoinFlip, argues that XRP is centered more on anticipation than actual consumption.

Polotsky was heard to say, “I believe XRP does not offer anything proprietary compared to its peers to explain its fairly huge market capitalization.”

Thus according to him, the token is seeing “inflated interest” as a result of personal investors focusing on the low token price instead of the full market valuation.

“This is basically a brilliant marketing strategy,” the CoinFlip founder noted, “but when the industry matures, the project’s lack of fundamentals will be mirrored in its pricing.”

Others were considerably more hopeful about the XRP token’s foundations. Carol Alexander, a finance professor at the University of Sussex, stated that if Ripple wins the court case, XRP will become the primary method of cross-border transfer of funds.

“It’s unlike any other cryptocurrency.” If it defeats the SEC, Alexander feels it will begin to replace SWIFT [the Society for Worldwide Interbank Financial Telecommunication].

 

 

 

 

 

 

 

 

 

 

 

 

About the author, Awi Khan

Leave a Reply

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}