XRP has seen a very positive side to the market surge, at the time of writing, XRP stands at $0.63, it’s up 23.01% and has a market cap of $24,754,831,148.
As we know, during the cryptocurrency
boom we saw Ripple hit heights of $3.00, many experts do assume that this really is the cap for the value of XRP due to the level of circulating supply. Eventually, we do expect to see Ripple XRP move back up to $3.00, whilst this could happen sooner rather than later if these trends continue, it’s not likely to happen overnight.
The half way point of $1.50 however is far more obtainable and is a value that we could reach over the weekend should this surge continue, which as we can see, seems to be the case.
If we quickly refer back to how Ripple XRP has performed over the past 24 hours, we can only see evidence of total gains, minus a few small troughs, possibly caused by the organic correction of the markets.
Obviously, the markets won’t just continue climbing if ‘nothing happens’ in the background, so to speak, many people however are starting to suggest that this is, but a minor bull run in the grand scheme of things and may act as a catalyst for a new wave of big runs and big surges.
These big runs will be met with corrections and will see periods of de-valuation but let’s remember that these are natural responses to the markets changing and ultimately, so long as the gains outweigh the declines, there’s no reason Ripple can’t meet that $3.00 target much sooner than we think.
Some other good news for Ripple XRP, which will no doubt influence the price of the coin, comes from Ripple’s own Chief Market Strategist Cory Johnson who has recently extinguished rumours that state XRP is actually a security, if this was the case then XRP would face some major difficulties, in terms of generating much needed exchange
listings. Johnson said:
“We absolutely are not a security. We don’t meet the standards for what a security is based on the history of court law, Coinbase never ever raised the issue of whether or not XRP is a security in our discussions about listing XRP. We're 100 percent clear, it's not a security. We don't meet the standards.”
Pair this up with imminent announcements from the company, some potential new exchange listings and the positive market trend and there’s no stopping Ripple XRP. We could see $1.50 soon and see $3.00 sooner than we think. Who knows what will happen after then.