Over the past 30 days, the price of XRP has shot up by a solid 22%. Traders’ interest in XRP is already quite high, indicating the potential for significant market activity, as Google searches for ‘Ripple news’ have skyrocketed by 122%.
Ripple has the potential to hit a record-breaking $10 to $30 per coin in the next 3-4 months, according to Thomas Kralow, a crypto hedge fund manager and founder of Kralow Capital and Kralow Ventures.
Kralow says he expects XRP to grow 20x – 50x in the next three months: “Currently, we observe huge speculative narratives around Ripple, which could potentially lead to a significant price increase for XRP in the next three to four months, pushing its value to anywhere between $10 and $30,” he told us.
Ripple – aka XRP – is a digital payments network which uses blockchain for settlement of currency transactions. In many ways it fulfils a similar function to the SWIFT interbank network which currently processes payments. Ripple is a token, a network, AND a company. It employs a consensus mechanism for facilitating interbank transactions, using verified banking servers.
Ripple has long been one of my favoured cryptocurrencies as it fulfils a requirements within the banking industry and could help to drive down international forex transaction costs. One of the big obstacles it faces is arguably the vested interests that support the existing way of doing business in the FX world (and its associated margins).
Ripple IPO creating excitement
There’s a lot of speculation surrounding Ripple’s cryptocurrency, XRP, as the company prepares to go public, which could be a ground-breaking event in the crypto industry. Some believe that after the initial public offering, Ripple could potentially reach a half a trillion dollars valuation, significantly increasing its market cap.
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Outcome of Ripple lawsuit with SEC
Another factor driving the excitement is the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC). There is speculation in the media about the possibility of a positive outcome for Ripple in the case. The final decision on this lawsuit is expected before September 30 this year, which means there are still around three to four months left for the case to be resolved.
“This anticipation has fuelled speculative buying, and some believe that XRP could rise anywhere from $2 to $10 if things go in Ripple’s favour,” Kralow said. “Considering all these factors, my target for Ripple would be a minimum of $10 per XRP and potentially even reach an ambitious target of $30.”
