Following Ripple’s victorious resolution of its prolonged legal battle with the United States Securities and Exchange Commission (SEC), optimistic predictions for XRP’s future have surged. Notably, one of the most recent and notably bullish forecasts comes from Shannon Thorp, a Business Development Manager at Wells Fargo. In a post on the X platform, she suggests the potential for XRP to reach an impressive $500.
Thorpe backs her bold claim by referencing the Bank of England’s 2023 ‘Cross Border Payments’ report, which anticipates the cross-border payments sector to reach an astonishing $250 trillion market cap by 2027. Consequently, Thorp argues that a $500 XRP price would be better suited to accommodate such a vast market, stating, “A $500 XRP price just doesn’t seem sufficient to handle that volume.”
Additionally, Thorp is not the sole proponent of a triple-digit future for XRP. Another analyst, known as XRP Captain on the X platform, predicts that the altcoin could touch $130 in 2024, attributing this to a triangle pattern observed on the XRP chart.
Notably, this isn’t Thorp’s first foray into making XRP price forecasts. She initially ventured her bullish prediction on July 30, 2023, speculating that capturing even a 10% market share of the cross-border transactions currently dominated by banks like J.P. Morgan could result in approximately $800 billion. Hence, she pointed out, “$1.00 is insufficient to facilitate such large-scale transactions.”
Furthermore, Thorp delves into the market dynamics in terms of liquidity and supply. “It all boils down to LS; if XRP is valued at $100 with a supply of, for instance, only 50 billion, this results in an LS of $5 trillion. At $500, this yields an LS of $25 trillion. This allows the market space to expand and ensures that no single entity needs to possess billions of XRP for daily operations.”
Consequently, Thorp positions XRP’s price range between $100 and $500. However, she refrains from specifying a precise timeline, emphasizing that the “how and when” are inherently interconnected. Hence, her latest projection essentially reinforces her earlier viewpoints, this time with an expected realization by 2027.
This news is only analytical and informative and is not a recommendation for investment in any way.
