The current price of Ripple (XRP) has been hovering around the $0.54 USD price point for some time. Based on such a low valuation, it might seem unrealistic to expect it to soar to more than $1,000 in value in less than 12 months.
Yet there are some interesting developments unravelling in the world of cryptocurrencies, especially surrounding Ripple and the future of XRP.
There are always broad differences in the arbitrary prices thrown around when considering the future pricing of cryptocurrencies. However, Ripple has always managed to remain somewhat stable in terms of pricing, avoiding the worst of the widely publicised volatility experienced by other cryptocurrencies.
Ripple is not comparable with other cryptocurrencies. What’s happening to digital currencies, such as Bitcoin or Ethereum simply isn’t happening with Ripple. XRP has a strong basis within the financial sector and is commonly used as a digital asset to enable real-time global payments anywhere in the world.
International financial transfer system, SWIFT (Society for Worldwide Interbank Financial Telecommunications) processes $10 trillion in transactions every day, and that figure represents only a portion of the entire financial market. In order to expedite international payment transfers, many banks and financial institutions use Ripple’s XRP to facilitate fast payment settlement and currency exchange on a global scale.
Unlike other cryptocurrencies, XRP has maintained a strong link within the financial markets. Yet it’s only a matter of time before it expands beyond those current boundaries.
Imagine if Ripple could achieve 100% saturation. The current market cap for XRP is sitting around $21 billion (1). If XRP was able to achieve a $29 billion market cap divided by the coins in circulation, it could be possible for XRP to reach a $600 price point.
So far, Ripple has been firmly entrenched within the financial sector. However, the company has been diversifying its interests, breaking into smart contracts and allowing developers to build on the platform. There are also other developments that the general public may not even be aware of that could push XRP ahead of other cryptocurrencies very quickly.
As an example, one of Ripple’s top executives, Ryan Zagone, has recently been elected to the Federal Reserve’s Faster Payments Task Force Steering Committee (2). The inclusion of a Ripple executive on the Fed’s task-force only proves that Ripple has a strong future in the field of international payments.
When you take in the potential scope of what’s possible for XRP in the future, it becomes evident that the cryptocurrency just might achieve $1,000 in 2019.