deVere CEO Forecasts XRP Coin Price Reaching $1 Dollar by the End of This Year
deVere CEO Believes XRP Would Reach $1 Dollar at The End of This Year
XRP has shown the last week that there are several individuals and companies interested in acquiring this virtual currency. XRP registered an important surge in the last weeks after several rumors around Ripple and the xRapid product.
Currently, the CEO of deVere Group, Nigel Green, believes that XRP could reach $1 before the end of the current year. At the moment of writing, XRP is the third most valuable virtual currency in the world with a market capitalization of $20 billion dollars.
If XRP wants to reach $1 dollar before of the end of the year, it would have to grow more than 90%. The last time that XRP was traded close to $1 dollar was at the beginning of March, 2018. In January, each XRP reached $3.7 dollars.
Green has also said that cryptocurrencies are the future of money, and XRP is one of the most successful assets in the market for business, organizations and individuals.
On the matter, deVere Group CEO, commented:
“The use of XRP is set to increase, and naturally, this will positively impact its price. I think it is likely that we’ll see it hit the $1.00 price level before year-end. It could even be double this in 12 months’ time as XRP adoption and usage soars.”
XRP shown during the last months that it is able to completely change the way companies and enterprises process cross-border payments. Using Ripple’s different products, businesses are benefiting from fast and cheap cross-border transactions. For example, MoneyTap, MoneyGram and TransferGo, have adopted Ripple’s technology.
In the near future, the market could see Ripple’s new products. Between October 1st and 2nd, the Swell event hosted by Ripple could be where the company will finally launch its xRapid product. The community is very excited about it since the first pilots shown an incredible increase in efficiency when processing transactions around the world.
Additionally, as this product uses XRP, the demand for the virtual currency could certainly increase, increasing pressure on XRP’s price.
Furthermore, XRP could become one of the main medium of payment for the startup company Coil. The startup based in San Francisco makes use of Web Monetization protocol in order to pay content creators.
At the same time, Ripple is experiencing an increased sell off from Jed McCaleb, Ripple’s co-founder. McCaleb is currently working at the Stellar Foundation that he founded some years ago. Nonetheless, McCaleb’s sell off did not have a deep impact on XRPs price.
Currently, each XRP coin can be bought for $0.52 dollars.