In 7 Months, XRP Will Go To $500! – Shannon Thorpe

<p>&nbsp;"Investors should not be in a hurry because everyone has different predictions, I don't know which one is correct."</p><p><br /></p><p>Shannon Thorp, Wells Fargo Treasury Manager predicts Ripple (XRP) could soar 14,088.52% to surpass $100 or 70,842.61% at $500 in the next four to seven months.</p><p><br /></p><p>This is because some investors only look at the movement of the XRP chart while others look at the utility of the digital asset, so Thorp expects the price to depend on several things.</p><p><br /></p><p>Thorp also introduced Liquidity Strength (LS) as an important metric to predict the future of XRP as it can consider the total supply including tokens in circulation, burned, owned by various entities such as banks, governments and individuals.</p><p><br /></p><p>However, Thorp pointed out that LS cannot account for the economic growth and continued benefits derived from the use of XRP.</p><p><br /></p><p><br /></p><p>Additionally, Thorp has made a comparison between XRP's potential and SWIFT's operations* which handles 33.8 million transactions per day, if XRP generates 30% worth of $7 trillion of SWIFT's daily value then it will generate $2.1 trillion for the digital asset.</p><p><br /></p><p>*Global standard for payments and securities trading transactions</p><p><br /></p><p>He estimates that there may be 50 to 75 billion XRP backing LS that has been distributed to 300 to 1,000 different institutions, where it provides around $75 million in the digital asset to each institution.</p><p><br /></p><p>After considering JP Morgan as the leading bank with a daily transaction volume of over $8 trillion, Thorn argued that 79 billion XRP in circulation is not enough to handle such a large amount if XRP only controls 10% of the market.</p><p><br /></p><p>Even so, the estimate can only be used on cross-border transactions but does not include derivatives, real estate, central bank digital currency (CBDC) and non-fungible tokens (NFT).</p><p><br /></p><p>As of this writing, XRP price has slipped by 3.09% to $0.68 in the last 24 hours with a market cap of $36 billion further recording a 1.20% decline over the last week.</p>