An XRP fanatic going by the title of Nerd Nation on Field just lately shared a hypothetical situation that has some inside the XRP neighborhood excited. The situation entails 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 pressured to burn their escrowed XRP tokens. Nonetheless, it does increase an fascinating 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 shouldn’t be far-fetched, as was identified by Moon Lambo’s Matt in a latest 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 occasionally seem to be a lofty aim, it’s vital to keep in mind that the present adoption of cryptocurrencies continues to be in its infancy. Many consultants consider that we are going to ultimately 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 haven’t any influence on the quantity of XRP accessible on exchanges. Ripples’ escrowed XRP shouldn’t be accessible on the market, and it’s cryptographically locked up. Subsequently, the one influence burning XRP tokens would have is an emotional one, as buyers react to the information.
Empower Oversight Calls for Transparency from SEC
In a associated growth, whereas the XRP neighborhood 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.
Based on 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 info.
Whereas the SEC continues to stonewall makes an attempt at transparency, the XRP neighborhood appears to the longer term with pleasure. There may be nonetheless a lot hypothesis concerning the potential worth of XRP, and whereas it’s vital to be sensible, it’s additionally vital to keep in mind that the way forward for cryptocurrencies continues to be largely unknown.
