New Theory from Alleged Ripple Expert Predicts $589 Price for XRP Coin By End of Year
Though the Ripple community is often on the same page regarding any changes and improvements, a recent theory from user Bearableguy123 has causes a rift. His theory is that the token will get to $589 before the end of 2018. Some reports suggest that Bearableguy123 is a Ripple insider, which is one of the other concerns up for debate.
The user has suggested multiple predictions through the year, including claims of partnerships that have allegedly gone through. His predictions regarding price movements have also been fairly accurate, leading many to follow the recommendations of when to hold onto the coins. The user, BG123, is primarily known for an image that shows Ripple rising above Bitcoin.
This image has many components, including a knight that may be meant to represent Brad Garlinghouse, a king that lacks a mouth, and a human-like puppet. Even though the interpretations have yet to be confirmed, it seems that these symbols are a suggestion that Ripple is tied in with the banking profiteers known as the Rothschilds.
There are three opportunities that the coin has to reach the predicted $589 value, which are:
- The launch of xRapid, based on the potential increase in trading volume.
- The burning of XRP, which has been increasing to promote greater trading volume.
- The launch of an update that will increase the speed of the platform.
Experts believe that the most likely change will be the first of the changes. Basically, if there is increased volume in XRP for cross-border transactions, then it could end up increasing trading volume over time. More XRP will end up being purchased, which will also be sold on exchanges as well.
A channel on YouTube, Working Money, decided to post a video that breaks down what exactly the community can expect if xRapid were to launch right after. In his calculations, he found that the daily fluctuation in that time would be about 7.25%, while the average daily volume would end up being $191 million. Furthermore, he believed that the Ripple price would largely depend on what percentage of the SWIFT’s market share was captured.
SWIFT handles about $4.7 trillion each business day. Even at a 1% claim of the business, xRapid would go to $47.8 billion. When considering that the trading volume is presently 1/250th of that, it represents about $5.56. Even if xRapid completely took SWIFT over, the total price of Ripple would still only come to $526.
Almost a year ago, Ripple CTO David Schwartz noted,
“It all depends how big you want to dream. What if Ripple captures bitcoin’s current market share? $2 What if Ripple captures the value of all high-friction International payments that are now occurring? $20. What if Ripple captures the value of an increasing volume of International payments driven by the reduction in friction? Maybe $120.”
Schwartz, at the time, felt that this was unlikely, saying,
“Ripple equaling bitcoin’s current market cap sometime in the near future doesn’t seem any more outrageous to me now than the idea of a bitcoin selling for over $1,000 seemed to me in 2012.”
Even with all of these potential factors, it just does not seem realistic for XRP to reach the heights predicted.