An XRP fanatic going by the title of Nerd Nation on Field not too long ago shared a hypothetical situation that has some throughout the XRP group excited. The situation includes the SEC requiring Ripple to burn half of its escrowed XRP tokens as a part of a settlement settlement. If this had been to occur, Nerd Nation on Field believes that XRP may hit a worth level of $17.
After all, that is all purely speculative, and there’s no indication that Ripple will probably be compelled to burn their escrowed XRP tokens. Nevertheless, it does elevate an attention-grabbing query concerning the potential future worth of XRP.
The All-Time Excessive of $3.84, Simply the Starting?
Even with out the hypothetical burn of escrowed XRP tokens, the concept of XRP hitting a market cap equal to that of Bitcoin isn’t far-fetched, as was identified by Moon Lambo’s Matt in a current evaluation video. At its peak, Bitcoin had a market cap of round $1.3 trillion, and if XRP had been to succeed in a 3rd of that, it will be price round $25.
Whereas this may increasingly appear to be a lofty objective, it’s necessary to do not forget that the present adoption of cryptocurrencies continues to be in its infancy. Many consultants consider that we are going to finally see a number of cryptocurrencies with market caps within the trillions of {dollars}.
It’s price noting that even when Ripple had been to burn half of their escrowed XRP tokens, it will don’t have any impression on the quantity of XRP out there on exchanges. Ripples’ escrowed XRP isn’t out there on the market, and it’s cryptographically locked up. Subsequently, the one impression burning XRP tokens would have is an emotional one, as traders react to the information.
Empower Oversight Calls for Transparency from SEC
In a associated improvement, whereas the XRP group speculates concerning the potential future worth of XRP, Empower Oversight is demanding transparency from the SEC. The group is supporting a movement to unseal SEC paperwork associated to William Hinman’s speech on cryptocurrencies in 2018.
In line with Jason Foster, founder, and president of Empower Oversight, the general public deserves solutions from the SEC about what they knew about Hinman’s speech and once they knew about it. The SEC has constantly stonewalled makes an attempt by public curiosity transparency organizations to achieve entry to this data.
Whereas the SEC continues to stonewall makes an attempt at transparency, the XRP group appears to be like to the long run with pleasure. There’s nonetheless a lot hypothesis concerning the potential worth of XRP, and whereas it’s necessary to be life like, it’s additionally necessary to do not forget that the way forward for cryptocurrencies continues to be largely unknown.
