Experienced economist Jeffrey Tucker says Ripple’s XRP might decline to absolute zero in the near future, or even rise, in the most improbable of circumstances, to a price of one million dollars.
XRP has continued its steady decline since the close of last year and shows little sign of shaking off resistance levels. The third biggest cryptocurrency has seen its bearish trend not abating, and previous predictions of the XRP price to reach $0.47 or higher before March are beginning to seem overly optimistic now.
A further drop below the $0.23 levels is bound to suggest XRP is ready for a more serious decline. But how low can XRP get, sink to a zero dollar?
Let’s Talk about Million
Speaking on RT’s ‘Boom or Bust’ show, Jeffrey Tucker, also an editorial director at the American Institute for Economic Research suggested that the impossible could happen. Especially with crypto. And the impossible, of course, in this case, is inclusive of a gruesome nose dive.
“Anything could happen,” Tucker predicted. “XRP could fall to zero but it could also be worth a million dollars.”
Tucker’s claim notwithstanding should not be taken literally, the possibility of XRP hitting a million-dollar in price cap is practically impossible, regardless of their enduring slump. For the XRP to hit million-dollar heights, then the market cap should be off the roof. By roof, XRP’s market cap would be punching weights no company in the world has come close to smelling. And it would have to stand at a little over a quadrillion dollars.
To put this into perspective, there are only four companies in America with a valuation higher than a trillion-dollar. Also considering XRP’s highest ever price cap peaked at $3.3, along with 10 billion tokens in circulation, then we have ourselves a well-rehearsed fantasy.
Tucker’s point, however, remains on the surface, the high vacillating tendency of XRP illustrates the degree of instability of the cryptocurrency system. And zero, dear investor, is not out of the question.
How Ripple Plans to Regain Strong Rise of XRP
It is perhaps not even certain that regaining a strong rise in XRP is pertinent in Ripple’s priority, at least going back recent developments. We should not forget that XRP powers a number of solutions offered by Ripple. Following a massive and significant raise of $200 million, Brad Garlinghouse announced the news of Ripple’s potential listing on the public markets. A piece of news that got uncertain reactions. It is not clear whether a Ripple IPO is any positive for the XRP. A few crypto analysts are convinced it is a bad move, at least, as far as the XRP is concerned.
Oh, uh guys, yeah we are actually going to IPO now, and offer shares that carry equity..so,…uh….about those coins.
— Cantering Clark (@CanteringClark) January 24, 2020
But with crypto, who knows. We just might be getting all wrong all over again.
Damola is a crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through positive contribution to the organization that aspires for excellence.