By now, you have heard the term cryptocurrency. If you are reading this, you are either an investor or interested in becoming an investor into cryptocurrency. There are many different coins to choose from, but today I’m going to focus only on XRP and why I think it will hit a $1,000 value by the end of this year.
First, let’s talk about “market capitalization” or better known as Market Cap. People are throwing that term around a lot lately when they talk about cryptocurrencies, but I don’t think most of those people truly understand the concept of it. Market Cap is an evaluation of the total dollar market value of a company’s outstanding shares.
So let’s differentiate a company stock from actual cryptocurrency. Crypto is not a stock. It is not a share in a company. It is a new form of digital currency. It is not controlled by governments and not influenced by centralized banks. Market Cap should not even really be a term when discussing cryptocurrencies because there are over 7 Billion people on planet Earth – and if you truly see the big picture here when it comes to this revolution that is taking place, you understand that the absolute potential here completely blows away any previous market capitalization figures from companies that actually sell stock.
There is a significant difference between the two. Cryptocurrencies have huge potential to break records. When was the last time you saw a single share (stock) of a company like Apple or Microsoft sell for nearly $20,000? That’s right, NEVER! It’s never happened, and probably never will. Think of it this way, everyone uses currency, not everyone uses an iPhone. That’s because cryptocurrency is a currency, not a stock. More people will adopt it, governments will eventually regulate it, and it will eventually become the commonplace method of fiat currency even though some have adopted this fairy tale ideology of a “decentralized” currency system. I personally don’t see that ever becoming a reality. Humankind as a whole is corrupt and there would be no oversight, which is not a good mix.
This brings me to a company called Ripple. Ripple is a company that is bridging the gap between blockchain technology and the centralized banking system. Pretty genius idea really. XRP is their token. It is traded daily just like all of the other cryptocurrencies – except that Ripple has a more realistic approach to this whole digital currency frenzy. They acknowledge that someday, governments will begin cracking down on major cryptocurrencies like Bitcoin, Ethereum, and others. Many people will make bad choices and lose their life savings and complain, demanding oversight from government. This is the way it goes every single time with everything folks.
Ripple on the other hand, is paving the way to keep fees very low while processing transactions in split seconds rather than days or weeks at a time. This not only cuts down on the bank’s fees, but it cuts down drastically on your fees as well. It also allows you to send money anywhere in the world instantly. While this concept may not be new, the technology behind it is and will continue to be adopted.
Ripple has already signed deals with American Express, Bank of America, and about 100 other banks globally. XRP has risen sharply. I personally invested in XRP when it was priced at $0.24 just a few weeks ago, and now it’s tipping the $3.00 mark. There are also rumors floating around that Coinbase, the world’s most popular trading platform for crypto, will be adding XRP to their list sometime early this year. If that happens, the demand and value of XRP will skyrocket overnight.
It would only make sense for Coinbase/GDAX to add XRP to their cryptocurrency exchange platform. It would not only provide more transaction fees/profits for them, but would provide more people who are not so “techy” a way to trade on a more user-friendly platform while buying XRP with their credit cards or bank accounts.
For these reasons, I predict XRP will hit at least $1,000 value by the end of 2018. Market capitalization is not even a factor, but a mere way for the “haters” to downplay the crypto-market. With 7 Billion people on Earth, and the technology we hold in our hands, the digital marketplace will become the new norm.
Back in the day when the internet was invented, major newspapers came out and stated that “the internet is nothing but a novelty” and that it would “never replace the traditional newspaper.” Boy were they wrong!
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