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

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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

Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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