Ripple News: These 3 Super Massive Events to Propel XRP Price 10x, Similar to Victory Against SEC

Ripple’s XRP has been on a downward trend since hitting $0.93 immediately after the court ruling. Several reports of the US Securities and Exchange Commission filing a motion for interlocutory appeal have created a sense of uncertainty among investors who have considered exiting their investment positions. As of press time, XRP had broken a crucial support level to hit $0.474726. Interestingly, experts including Shannon Thorp have predicted a huge run for the asset, adding that its value is massively undervalued

According to Thorp, it may sound outrageous to predict XRP to hit $500. However, that price point is conservative. The reason stems from the sentiment surrounding Ripple’s 2023 New Value Report as well as the Bank of England’s report on cross-border payment. As stated in the report, about $250 trillion would be transacted in cross-border payments by 2027. If such volume is facilitated by XRP, $500 would be a far lower price than the deserving value.

From the 2023 New Value Report by #Ripple. $250T is expected by 2027 just in cross-border payments! A $500 XRP price just doesn’t seem like enough to facilitate that amount.

A careful review of this statement implies that Thorp may have factored the $100 billion total supply in her calculations. When $250 trillion is transacted in XRP, each coin may be worth $2,500 on average.

CNF Review of the BoE Report and Linkage to XRP

A review of the Bank of England report by CNF indicates that the $250 trillion is an estimated value of cross-border payments. In this case, Ripple would have to take absolute dominance over the eco to ensure that the predicted price is materialized. In the report, the BoE estimated that the value would record a significant surge from $150 trillion in 2017. This means there would be a 10-year increment of $100 trillion

Four main factors were highlighted to influence this move. Firstly, there has been a recent expansion of the supply chain across borders by manufacturers. Secondly, international trade and e-commerce have intensified. Thirdly, there has been an increased cross-border Asset Management and Global Investment flow. Finally, there have been reports of migrants increasingly sending money through International remittances

Buy XRP quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website << These trends have increased the demand for cross-border payments and the need for end users to have access to cross-border payment services that are as efficient and safe as comparable domestic services. Remittances in particular play a vital role in low and middle-income economies and in some cases are becoming the primary source of development finance.

The above-mentioned factors in addition to the increase in “global mobility of goods, services, capital, and people” have played a crucial role in the explosion of cross-border payments in the last decade

In a different post, Thorp argued that the price of XRP should not be linked to Bitcoin by reason of lack of utility. Bitcoin specifically relies on speculative value. With several partnership deals sealed by Ripple with prominent financial organizations to promote financial stability, XRP stands to benefit

XRP has fallen by 5 percent in the last seven days and 3.8 percent in the last 24 hours

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