XRP To Surge By 100,000% – Is This Possible?
After a few days in which the crypto market was filled with digital assets trading in the green, today, things are looking a bit mixed, with the most important digital asset trading in the red, along with many other cryptos.
Ripple’s XRP did not make too many exciting moves during the past year, and Ripple was accused of this.
Ripple was accused of XRP’s lousy performance regarding price
Not too long ago, we reported that the founder of Quantum economics, Mati Greenspan highlights the reasons for which he believes XRP has been struggling so much during 2019 regarding the price.
Greenspan said that Ripple is to blame for XRP’s price, he blames the company’s routine sales, and these are reportedly what prevented the price from rising.
Brad Garlinghouse said more than once that there are more important issues in the crypto space than the price of digital assets: developments, adoption, real-world use cases, and more.
XRP shows bullish signs in 2020
EthereumWorldNews reveals that crypto analyst Bitlord recently posted the chart that you will also see below and noted that XRP is showing some pretty bullish signs. He said that the coin could surge by more than 100,000% and reach $224.
Say what you want about $XRP
-Just don’t say you didn’t know
— Crypto Bitlord 🇦🇺 (@Crypto_Bitlord) January 7, 2020
This prediction went viral as expected and managed to trigger tons of enthusiasm for XRP and Ripple enthusiasts.
The online publication continues and explains why this is really not likely to happen, and it’s irrational from a strict number perspective.
They write, “Right now, the cryptocurrency has a circulating supply of 43,366,238,611 tokens, according to data from CoinMarketCap, or a liquid supply of around 28 billion tokens, per data from Messari’s OnChainFX market screener.”
The publication continued and wrote that “Even if we take the lower of those numbers — Messari’s estimate for the liquid supply of XRP — a price of $224 would give the cryptocurrency a market capitalization of over $6 trillion.”
At the moment of writing this article, XRP is trading in the red and the coin is priced at $0.203098. XRP seems to have found support at $0.20, which is still a pretty significant thing.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.