DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education/entertainment purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.
First of all, it has been a while since I have written my last article some few weeks ago and I feel like I have to give you an update with the XRP and it is a must for me. We have seen a recent break-out in XRP’s price against the US dollar last November 13, 2020. It just broke a 2-month long resistance line which I am much impressed together with other people believing in the cross-border cryptocurrency asset.
And XRP has not even done yet; next thing happened was it broke the $0.34 resistance where most analysts agree as a long time barrier line in the 2-year bear market curse that XRP is facing. It even rocketed past $0.40 then $0.50 where all the frenzy hypes in social media especially in Twitter has become a trend for XRP lately. With some of the crazed fans bashing the king crypto Bitcoin. Not only that, XRP managed to reach $0.79 just a cent shy for $0.80 yesterday before its price was rejected to as low as $0.56 levels. At the time of writing this article, XRP price is consolidating inside the bound trading ranges within $0.61 - $0.75 levels.
Overall, the XRP is the top gainer in the last 2 weeks or even this month and I hope it continue its bullish run. Who knows it will break its only all-time-high last January 2018. Anything happen. We also see bullish marathons in the king coin Bitcoin and queen of smart contracts Ethereum aiming for new all-time-highs. Basically, we are in a crypto bull market cycle.
If today’s yearly high for XRP at $0.79 might be enough for a sell-off but if I am to be asked, it is still insanely cheap! Not even $1 or $5 not even $10! It takes at least some years, let’s say 5 years from now before we truly see XRP’s internet-of-value utility as cross-border settlement currency as well as banking financial bridge asset to an expensive price which I do not know. Really…
XRP is designed to be a utility asset specifically built for cross-border payments solving a real world trillion dollar problem with the SWIFT financial system. We all know that SWIFT money remittances take days to complete and costing expensive fees. Money sending must be also fast like how we send emails in the internet quickly. It should be like a snap of the fingers right?
In fact based on my own deep research, RippleNet is only utilizing the payments 20% in XRP through its xRapid network. So we can say here that XRP is not yet utilized to its full potential as a bridge asset. Imagine if 100% of all the cash flowing through the RippleNet financial network system is in XRP! There will be a tremendous amount of payment corridors that sending and receiving XRP here and there! This drives mass adoption of XRP through business establishments, banks, financial institutions, and people for everyday transactions. Take note that XRP is scalable and good for micropayments as well. We cannot simply miss our chance of earning money here! There is a lot of money flowing and it should not be missed out. XRP’s demand by that time goes skyrocket hence I can see at least a 3 digit price.
The time has not yet come for all these things mentioned to occur. All we know right now that Ripple is keep on growing its list of company partners like the big names of Amazon and Apple. Not only that, they also partnered with money remittance companies like MoneyGram. Do not forget the big banks involved here like the Bank of Spain – Santander, Bank of England in United Kingdom, the Bank of America in the United States and so much more to mention! Ripple has also partnered with big trading exchanges like Japan’s SBI and planning to use XRP on Forex Trading. Do not forget that XRP will become a bridge asset for Central Banks interoperability once their CBDCs – Central Bank Digital Currencies are in play! And lastly, XRP will have DeFi – Decentralized Finance feature once its utility fork is live via the Flare Networks. The XRP is the most promising cryptocurrency ever! It will be the best investment in the next 5 years if we consider dollar to cost ratio. So even a $10 XRP value right now would still be insanely cheap versus its future projected price once mass adoption takes place.
To close out this article, for the mean time Ripple company is still facing SEC clarity issues in the US and other controversies related with the XRP and I just hope that everything will be alright to finally put the underdog crypto in being the standard.
I would like to remind you my readers to read again my disclaimer above! Anything I have mentioned where does not mean any financial advice and for entertainment purposes only.
I do hope that you have enjoyed reading my article. Wherever you are right now, I wish you are safe and God bless!
Rocket fuel is ready !