[Photo: Ripple Taking Off. Source: newsbtc.com]
I think it is time for some good news after the happenings in the cryptocurrency markets and a similar crash in the regular stock market. Ripple (XRP) has not been spared by the hellish bloodbath that has seen some astronomical drops in value in less than a month. But there has been a slight pump in prices. Currently, Ripple (XRP) is trading at $0.73 which is a 17% rise from a yesterday low of $0.62. This is some welcome relief.
Allow me then to compile 4 of the major price predictions that I have come across in the web. Some might sound absurd; some might sound realistic. But it does not hurt mentioning and analyzing them. Not forgetting that anything is possible in the world of cryptocurrencies.
Yes, this figure is absurd! This would mean that the market cap of Ripple would be around $27 Trillion. It is worth noting that the total value of all gold ever mined is about $7.8 trillion.
But how did we reach a price prediction of $692.30 per XRP?
This value is obtained by using the assumption that Ripple (XRP) will be the coin and system of choice for all cross-border settlements by financial institutions. The daily estimate of all cross-border payments accross the globe stands at $9.8 Trillion. The theory also states that there is $27 Trillion parked in cross-border transnational accounts. If Ripple (XRP) were to be the medium of choice for that $27 Trillion, then we get to $692.30.
$151.51 Per XRP
The author of the article on medium that predicts this price for XRP goes ahead and does complex math calculations to reach this figure. Some of which I am sure we’d understand with time. This price estimate is obtained using a value investing approach. The price is reached by calculating what value Ripple (XRP) brings to the world of transferring value/cash across the globe. It is more or less giving a price prediction for Ripple’s (XRP) proof of concept.
$25.64 per XRP (Trillion Dollar Market Cap)
The current supply of ripple lies at 39 Billion coins in circulation. The current market cap at the moment of writing this, lies at $28.489 Billion. This value is obtained by multiplying the current price of $0.73 with the 39 Billion coins in circulation. Therefore, for a Trillion dollar market cap, we work backwards from the coins in circulation to get the projected price of $25.64 per Ripple (XRP). This is not a far off figure for Ripple to reach by the end of 2018. This can be made possible as more and more banks and money remitting service providers adopt the Ripple money settlement system. Considering the fact that Ripple (XRP) did over 20,000% in gains in 2017, $25.64 is highly likely and only a 3,500% gain from the current price of $0.73. It is possible!
$6.45 per XRP
The following investors have currently put forward their intention or are already working with Ripple: Accenture, Andreessen Horowitz, CME Ventures, Core Innovation Capital, Google Ventures, Santander Innoventures, SBI Group, Digital Ventures, Seagate, Standard Chartered and many more to come. This means that the little coin is really living up to the big shoes that the financial institutions expect it to fit into. This is why it might not be prudent for the coin to skyrocket at a pace only known by Bitcoin or other coins that fluctuate due to pumps. Therefore, a $6.45 price prediction is a conservative and welcome price to guarantee price stability for Ripple (XRP) in 2018.
It is with the last estimate that I am most comfortable with right now. The other three are exciting but the reality is, such quick and rapid rise of a coin, can easily lead to a fumble at the top like the legendary Bitcoin has. I hope Ripple (XRP) takes the steady but sure route to the top.
What do you think?
This article was curated from Google News. You can read the original article here.