The crypto winter of 2018 which has extended into the first month of 2019 is a sharp contrast to what we saw in 2017. The biting crypto winter has not shaken the belief in crypto markets though, with top crypto-currencies such as Ethereum, Bitcoin and XRP still being the objects of discussion among crypto enthusiasts. The crypto winter has also not stopped enthusiasts from making bold predictions.
An interesting theory on XRP has been published on TheIndependentRepublic.com, suggesting that XRP could soon surge by 2000% to hit $692.30 per coin, which will see its market cap rise to $27 trillion. This particularly raises eyebrows seeing that all the mined Gold on the planet has a combined worth of $7.8 trillion.
According to Utoday, such a shocking surge would only be possible if Ripple was to be chosen for all cross-border payments by financial institutions. The Utoday article explains;
“The daily value of all cross-border transactions around the world is $9.8 trillion, while $27 trillion is stored in cross-border transnational accounts.”
This assumption is off course too good to be true, but there is another more realistic prediction that has been made by Investinghaven.com. According to Investinghaven.com, XRP could hit $20 per coin by the end of this year since Ripple enables international payments. Taking into consideration that there are 41 billion XRP in circulation, this theory is also quite unlikely, but we have to wait and see.
Just recently, Ripple unlocked a huge amount of XRP from one of its escrow wallets and sent them to a separate unknown wallet. The $1 Billion dollar XRP transfer was worth about $302 million, with a 0.000012 XRP fee and only took a few seconds to complete the transaction.
Ripple has about 60% of its total XRP supply at its disposal with most of it locked in escrow. These coins are often sold to exchanges, institutions and other parties of interest. Last year saw Ripple sell a record breaking $535 million worth of XRP.
Ripple’s policy is not only to satisfy customer needs, but also constant expansion and gaining the trust of new customers. The company has made big strides this year already having signed up 13 new companies which are; Transpaygo, FTCS, Ahli Bank of Kuwait, BFC, ConnectPay, Bahrain, WorldCom Finance, Euro Exim Bank, JNFX, SendFriend, Olympia Trust Company and Redimento. One of Ripple’s early customers, Mercury FX, stated that it has been able to move massive amounts of capital thanks to Ripple’s technology.
Plaudits for Ripple did not end there, with crypto payment processor Coingate announcing that it would support XRP payments for merchants.
The XRP price predictions by TheIndependentRepublic.com and Investinghaven.com may seem unrealistic, but what one cannot doubt is the growth and potential of XRP. Judging by the partnerships made by Ripple this year alone, there is good reason to be bullish on XRP.