Let’s talk about XRP for a minute, should we? We haven’t heard that name in some time, I know. You see, I have the inkling that XRP is about to shoot to the moon. That’s why I want to talk about it.
Here is why: well, the cryptobull is about to get going again, and we all know that. But moreover, look at the chart:
You will notice that every time there is a flame in the Bitcoin markets, XRP is like bunsen burner gas. It’s like Helium, in fact. It takes off like Concorde. All the signs are it’s about to happen again, too. It’s joined the major leagues. Why? Volumes! In the past, XRP used to tread much thinner volume waves than the primary two incumbents. But not now. XRP’s volumes are roughly double their one-year ago level. Guess what that compares to perfectly? You guessed, right: Bitcoin.
XRP has made major leaps in the past 2 years. It is fully fair and reasonable to say that it is the only crypto that has been worth holding over that period at all. XRP gets flack for its loose technological status in the Blockchain world. It’s not decentralised, they say. The guys who created it, Ripple Labs, are being sued.
Welcome to cryptocurrencies. It’s called disruption. Banks don’t like being disrupted and neither much do blockchain entrepreneurs, apparently. The fact is XRP is ready to rumble. A $140 price target is truly not unreachable.
In fact, some say that XRP is destined to become the world number one crypto by an enormous margin. With a projected $100 — $200 price inside 24–36 months, XRP’s $4-$8 trillion market cap will equal at a minimum roughly the total of Japan’s annual gross domestic product.
The reason? Simply because most XRP is premined and pre-controlled with respect to supply release, and because Ripple, the currency’s issuer, has no retail product as of yet to weight its currency and/or its network down in excess utility (that does not mean it has no product though! Ripple has a wholesale banking solution). Qualitatively, the currency’s mystique movements throughout its history (and earlier last year especially so) more closely resembles Bitcoin’s early stage gains than does any other cryptocurrency.
It is hard not to conclude that early major Bitcoin holders are moving substantial amounts of their crypto fortunes into Ripple’s visions for the future of banking — however vague and mirage-like they may seem in the present. This is evidenced in hard numbers by the lack of overall dependency of XRP on either BTC or ETH (just 14%). The volumes are there. And the simple fact is, the tech is there, they just ain’t showing it to ya yet. Sounds like real sensible disruption to me.