In a recent post on social media, user BarriC laid out a compelling vision for why the cryptocurrency XRP reaching a price of $1,000 is entirely reasonable. With clear and rational arguments, BarriC shows how the expanding adoption and utility of both blockchain technology and XRP itself makes such valuations achievable.
As BarriC explains, the current market capitalization of the entire cryptocurrency market is $1.5 trillion. However, as both businesses and institutions continue to realize the benefits of blockchain-based payments and assets, they will increasingly adopt solutions like XRP for transferring value. XRP allows movement of funds “almost instantaneously for a minimal fee,” as BarriC describes.
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With major banks and financial players partnering directly with the company Ripple to utilize their XRP cryptocurrency, real-world usage is translating to significant investment and speculation. “As more financial institutions partner with and utilize XRP and the XRP blockchain technology,” says BarriC, prices will continue to find support at higher levels.
Scarcity Fuels Value
BarriC also points to the principle of scarcity as a key driver of growth in XRP’s valuation. With only a finite number of the cryptocurrency in circulation, increased demand from investors and financial systems will make available supply decreasingly scarce. This scarcity feeds directly into increased market value for the remaining XRP in circulation. “It’s actually logical and $1000 $XRP is absolutely possible,” BarriC argues.
With the current full personal net wealth globally having barely begun moving into cryptocurrencies, BarriC sees the momentum only continuing to accelerate for blockchain-based assets like XRP. As more individual and institutional investors allocate funds to this space,limiting factors of scarcity and increased utility will likely translate to returns unheard of in conventional equities. For speculators like BarriC, $1,000 XRP seems not just possible – but inevitable.
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