Ripple’s legal victory against the SEC has sparked a surge of bullish predictions for XRP. The latest and most optimistic forecast comes from a Wells Fargo Manager, who believes that the price of the digital asset could reach three figures.
Shannon Thorp, a Business Development Manager at Wells Fargo, took to Twitter to share her bullish outlook for XRP. She predicts that the price could rise as high as $500. Thorp supports her prediction by referencing the Bank of England’s ‘Cross Border Payments’ report, which projects the cross-border payments market to be worth $250 trillion by 2027.
“A $500 XRP price just doesn’t seem like enough to facilitate that amount,” Thorp explains. She believes that the potential market valuation warrants a higher price for XRP.
Thorp is not the only analyst who sees a triple-digit future for the altcoin. Another analyst known as XRP Captain has predicted that XRP could reach $130 in 2024 due to a triangle pattern in the XRP chart.
This is not the first time that Thorp has made such a prediction for XRP. She previously explained why she believed the price could climb as high as $500 in a detailed post on Twitter. Her initial prediction was based on Ripple capturing even a small percentage of the cross-border transactions currently done by banks like J.P. Morgan. Thorp argued that $1.00 is not enough to move that kind of money.
Thorp’s recent forecast is a doubling down on her previous prediction, with the expectation that XRP will reach this figure in 2027.
While these bullish predictions offer hope for XRP investors, it’s important to note that the cryptocurrency market is highly volatile and unpredictable. As always, caution is advised when considering investment decisions.
Sources:
– Ripple vs SEC Appeal: https://bitcoinist.com/ripple-vs-sec-appeal/
– Bank of England’s ‘Cross Border Payments’ report: [insert hyperlink to credible source here]
– XRP Captain’s prediction: https://www.newsbtc.com/analysis/xrp/xrp-price-130/
– Thorp’s initial prediction post: https://twitter.com/thorpshannon87/status/1685427003879522305?s=20
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The writer does not have any affiliation with bitcoinist.com.
Image source: CoinMarketCap, chart from TradingView.com
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