Shannon Thorp believes $500 per XRP token is a conservative projection in response to Ripple’s $250 trillion cross-border transaction forecast by 2027.
XRP’s potential value of $2,500 per token is contingent on its 100 billion total supply, assuming all tokens are actively used.
In a recent tweet, finance specialist Shannon Thorp stated that the $500 per XRP token projection is conservative. Thorp expressed this view in response to Ripple’s recent report on projected cross-border payment values. Notably, Ripple’s 2023 New Value Report forecasts over $250 trillion in cross-border transactions by 2027. Thorp thinks that if XRP handles this immense volume, its price should surpass $500.
XRP’s 100 billion token total supply might influence Thorp’s perspective. If $250 trillion were to be transacted in XRP, it could imply that each token holds an approximate value of $2,500. This assumption depends on the premise that all XRP tokens are in active use.
Nonetheless, it’s essential to clarify that the anticipated $250 trillion represents the entire cross-border payment realm, not solely XRP-based transactions. This projection hinges on the unlikely scenario of XRP completely dominating the sector.
The reactions received by the post displayed a high level of confidence among XRP community members. One user expressed gratitude and noted that the post didn’t consider the derivatives market, suggesting the potential for XRP to achieve even greater heights.
In contrast, a self-proclaimed XRP critic also responded, asserting that the numbers are factual. Based on calculations made three months earlier, this user estimated a value range for XRP between 9,000 and 10,000 per token.
Ripple $250 Trillion Forecast
A study from the Bank of England (BoE) shows that Ripple, a prominent player in the blockchain and cryptocurrency industry, anticipates a staggering $250 trillion in cross-border payment transactions by 2027. The report emphasized the significant economic importance of cross-border payments.
The Bank pointed out that the substantial increase in the movement of goods, services, capital, and individuals globally in recent decades has played a major role in the remarkable expansion of cross-border payments.
This revelation has ignited extensive discussions and debates within the cryptocurrency community, primarily focusing on whether Ripple’s XRP cryptocurrency, currently valued at $500, can manage this substantial surge in transaction volumes.
In the ever-evolving cryptocurrency landscape, XRP finds itself at a crucial juncture. Its deep integration with Ripple’s cross-border payment solutions places immense importance on its valuation in determining the company’s ability to realize these ambitious projections. Advocates of Ripple argue that XRP’s efficiency and scalability position it ideally to handle the expected surge in transaction volume.
Nevertheless, numerous challenges loom on the horizon. The cryptocurrency market’s inherent volatility underscores the unpredictability of the path towards a $500 XRP valuation. Regulatory concerns, shifts in market sentiment, and competition from other cryptocurrencies all cast shadows of uncertainty over XRP’s outlook.
The regulatory framework for cryptocurrencies is perpetually in flux, with governmental bodies across the globe working tirelessly to establish coherent guidelines for the usage and trading of digital assets. Ripple has grappled with legal disputes involving the U.S. Securities and Exchange Commission (SEC), further complicating XRP’s future. The cryptocurrency’s valuation and utility hinge significantly on regulatory compliance and acceptance.
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