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Ripple to reach $334 per XRP in 3 years. Outrageous prediction?

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Ripple xrp 334 usd prediction

The cryptocurrency market has characterized as being anything but rational, a fact that sometimes makes us all, as users, a little disconcerted with movements in the prices a bit harsh to read. That is currently the panorama for many virtual coins in the market that apparently out of nowhere, just happen to hit the moon with their prices and we don’t even understand why.

Of course, most of the times this is spurred by a bunch of speculations that not in all the cases end up being right. But would it be real the forecast going around (watch the video I stumbled upon, right below) that Ripple (XRP) could hit the $334 mark in a timeframe of 3 years?

Well, even though it sounds crazy, there are a couple of reasons to believe this could be a fact. Let’s find out why many experts are assuring Ripple will hit the moon very soon, and the same way, what are the main arguments behind the asseveration!

The sector of the industry Ripple aims to tackle

The mission of Ripple is one very ambitious; the company seeks to resolve the main problems the banking system has not been able to after all this time.

The SWIFT system has proven to make the customer experience very poor, meaning long periods of times are necessary to make a transaction, and of course, high fees are charged per operation.

Ripple plans to solve all this by reducing at least in a 40% the inefficiencies of the 24 trillion dollar market, an action of which of course it will get retribution.

It is expected like this, that Ripple gets at least a 10% out the $24 trillion market once implemented its solutions, and another 10% just in fees. So we would be speaking of at least $4.8 trillion of income, a number that of course would shoot the coin to the moon and beyond.

Likewise, the $334 value prediction is more than justified. If Ripple were to be adopted by a notable number of bank entities then others financial institutions will succumb as well as they would not want to lose clients because of other entities offering a more efficient service.  And if a mass adoption would happen among banks, Ripple would be valued even above the $334 mark.

The possibilities of coin burning

Most of the people just assume that Ripple would never be inclined to burn coins, but as a matter of fact, Ripple is likely to deploy a coin burning in the long term.

We have already considered the fact that Ripple would possibly be adopted by a large number of bank entities around the world, if not the entire banking system.

Well, in a scenario like this the company would be inevitably directed to a massive coin burning and be considering a case like that the price of the coin could even get above 500 US dollars.

A massive adoption by exchange platforms

To conclude, right at the moment when Ripple starts to be adopted by bank entities it would become incredibly appealing for several exchange platforms across the globe. Meaning that it will gain an outstanding validation at large, and consequently, a remarkable place in the crypto sphere.

In the end, the prediction is not that outrageous after all. But something to keep in mind always is that investing in any cryptocurrency includes as well an inherent risk. So be sure you only invest what you would be willing to lose!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pxhere.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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