Reasons Why “XRP Below $1 Within Five Years” is an Overlooked Prediction (Opinion)
A Motley Fool piece recently made the prediction that XRP would go under $1 within the next 5 years. Here are some reasons why the forecast makes no sense, considering past performance and the current trends in the market.
1. Crypto Market Cycles: 60% Pullbacks Are Typical
* Forecast: "XRP is off by over 60% since its July high."
* Truth: Big pullbacks happen after parabolic rises. The Nasdaq fell by 80% after the Dot-Com bubble. Both bitcoin and XRP experienced pullbacks of 60%+.
2. Proof of Rising Demand for the XRP Network
* Misconception: “The demand for XRP among banks involved in international money transfer has not taken off.”
* Facts prove otherwise:
^ XRPL witnessed unprecedented activity in December last
year.
^ The number of wallets reached an all-time high in March this year.
^ Goldman Sachs reported $153 million worth of XRP assets in
February.
* Actual adoption and institutionally-held funds negate the claim of no demand.
3. XRP is part of the Digital Currency Stockpile of the United States
* According to the policy directive signed by President Trump, XRP ranks as 1 out of 5 cryptocurrencies to be included in the digital currency stockpile of the United States.
* Even the U.S. government itself intends to acquire Ripple coins for its fund.
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