News - Ripple soon at 500 US dollars?

By Mike Hesp

Ripple soon at 500 US dollars?

A Wells Fargo manager is bullish: by 2027, Ripple should establish itself as an international payment service provider - and shoot XRP "to the moon.

According to Shannon Thorp, business development manager at major US bank Wells Fargo, Ripple (XRP) could rise to as much as US$500.

In a tweet Thorp explains her prediction and refers to Ripple's 2023 New Value Report, which describes new trends and business ideas.

According to this report, cross-border payments would be a $250 trillion market by 2027. Optimal for Ripple: after all, the crypto protocol focuses on international money transfers.

"An XRP exchange rate of $500 just doesn't seem like enough to make that amount possible," Thorp said.

That XRP will rise 106.429% from its current $0.477 to $500 in just four years seems highly doubtful. After all, the cryptocurrency has risen "only" 8,036% since the coin was issued.

Also hard to imagine: a market capitalization of US$26.5 trillion - and that with the current XRP supply. Currently, only 53% of all XRP coins are in circulation.

By comparison, the entire gold supply on Earth has a valuation of US$12 trillion.

There is at least one Ripple whale hoping for commensurate price growth. After the SEC lost in court, the anonymous investor bought about 425 million XRP.

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