Leading cryptocurrency exchange Bitrue, involved in the promotion of XRP, recently stirred up a heated discussion about the future price of the cryptocurrency. Instead of the usual predictions, the question was asked about the true target value of XRP.
$50 for XRP
The Bitrue platform via Twitter (X) sparked the debate by asking its observers the question, “What price will XRP reach?”. The situation triggered an avalanche of diverse opinions on the cryptocurrency’s potential.
Among them were unusual predictions that caused a stir in the community. An XRPayNet ambassador hazarded the claim that XRP has the potential to rise to $50. This bold hypothesis is based on new financial opportunities in Africa’s FinTech sector, estimated at a massive $2.7 trillion. Ripple has recently underscored the key role XRP can play in the future of payments in Africa, forecasting that revenue from these services will grow to $230 billion by 2025. To that end, the Silicon Valley-based company has entered into a strategic partnership with African payments processor Onafriq to capitalize on the expected profits from XRP.
The XRPayNet ambassador noted that if the FinTech market in Africa were to reach $2.7 trillion, it could drive the price of XRP up to $50. However, this seems to be a very optimistic vision with potentially significant risks, as such a price would mean an increase of almost 8000% compared to current values.
XRP, instead of breaking resistance, prefers to break hearts
Other experts, like Don Manning, a U.S.-based data engineer, express less enthusiastic predictions, pointing to “technical” possibilities for the XRP price in the range of $1 to $1.3. Despite the current bullish trend in the cryptocurrency market and XRP’s achievements in the regulatory sphere, there are some factors that Manning believes are holding back growth. However, it is difficult to say what they are.
However, not all commentators share this prediction. Some express skepticism about the possibility of such a rapid increase in the price of XRP. Many humorously point out that XRP seems more likely to “break hearts” every day rather than break price records ever.
XRP’s long-term price stagnation
This ironic perspective is partly due to the fact that in recent times, while Bitcoin has been gaining significantly in value, XRP has remained relatively stable. In 2018, the price of XRP hovered around $0.5, and today, five years later, it remains in a similar price range. This phenomenon certainly leaves uncertainty among investors, since, as we can see, expectations of price increases do not always come true.