Controversial Crypto Community Contributor Calls For $10,000 XRP Coin Price As Ripplers’ React
XRP At $10,000? Crypto Enthusiast Believes XRP Will Be At The Top
XRP at $10,000 seems like a fairy tale movie, especially in a time when the cryptocurrency still struggles to go beyond its current resistance level as a result of the bear market.
However, if you take a good look at Ripple's XRP – despite the bear market – you will notice it is one of the most talked-about tokens in the crypto-sphere today, and many crypto-enthusiast believe that it will be at the top one day.
XRP attracts lots of crypto-enthusiast; of late, they believe it will reach a price mark of $600 per XRP. One crypto-enthusiast Mark Philip went so far and stated that Ripple is designed to reach the price mark of $10,000. Mark took to Twitter to publish his proclamation, while also writing an article on Medium to support his claims.
Mark’s tweet: “Did @Ripple design #XRP to be worth $10,000? I think it was and provide some evidence: bit.ly/2tuSF0o what do you think? @digitalassetbuy @Hodor #xrpcommunity #xrpthestandard pic.twitter.com/wE0EMcGBE9.”
Before dismissing the forecast by Mark and other crypto-enthusiasts, it’s necessary to know that two years ago (2017), XRP began at $0.006 and surged further to $2.80 before that year rounded up, thus, experiencing a massive growth of more than 3000%.
XRP continued at the same pace reaching a price of $3.80 in the first few days of 2018, and it climbed to the second position as the most prominent digital asset by market capitalization (more than $140 million as market cap).
Although, the bear market that started last year is the longest ever experienced and it makes it absurd if XRP can reach those heights again. But one thing we should know is this: strange events occur in the crypto-space. We can argue that ever since the start of 2017, XRP has continued to prove its doubters wrong.
Mark in his article, explained some of the main features of XRP to prove that it has the potentials to reach $10,000.
- Specifically Created For Payment Providers
Mark mentioned in his article that XRP enables faster, cheaper, and reliable cross-border payments.
Not only that, XRP provides liquidity for regulating price swings. XRP’s ability to offer liquidity to financial systems and institution attributes to fast payment processing option the network offers which is not subjected to value swings. He also stated that institutional investors are buying XRP over the counter which is not seen on published exchange prices.
- Divisibility and Affordability
As noted by James Hunt, XRP is very divisible despite being at a price mark of $0.31. About 100 billion XRP is in circulation which can be divisible in 6 decimal places.
However, if financial institutions combine with Ripple’s network, a single XRP token will trade at almost $10,000 per XRP for better liquidity. XRP attracts financial institutions due to the low cost of transactions involved; this may surge its price to $10,000 in the future.
Ripple also has the unbanked nations such as Nigeria, China, India, Bangladesh, and Mexico in mind. The XRP ecosystem aims to be scalable to serve more than 7 million people (including the unbanked) at a low cost.
- Meager cost of transactions
The standard transaction cost on XRP network is 0.00001 XRP. Even if XRP attains $10,000, the transaction cost will be very low and can’t exceed $0.10.