Nigel Green expects XRP to cross the $1 price milestone before the end of the year. The CEO of deVere Group believes the emergence of positive sentiments concerning Ripple and XRP will catapult the third-ranked cryptocurrency to the $1 price valuation mark.
XRP Will Reach the $1 Milestone
According to BusinessCloud, Green believes that the Ripple currency is uniquely positioned within the emerging cryptocurrency matrix. Thus, the deVere chief expects Ripple and its virtual currency to find greater utility as more organizations in the mainstream business sphere begin to adopt the technology.
Commenting on this position, Green said:
Cryptocurrencies are the future of money and, clearly, XRP is proving to be one of the most useful cryptocurrencies for businesses, organizations, and individuals. The use of XRP is set to increase, and naturally, this will positively impact its price. I think it is likely that we’ll see it hit the $1.00 price level before year-end. It could even be double this in 12 months’ time as XRP adoption and usage soars.
Green bases his forecast on the emerging revolution within the global financial status quo. Many stakeholders believe that cryptocurrency and blockchain technology will cause a paradigm shift in the global business scene.
Ripple’s Aggressive Expansion
For its part, Ripple has spent the last few years massively advancing its remittance and payment technology. The company recently announced the imminent launch of its xRapid product aimed at increasing the Ripple currency’s utility in the banking sector.
Ripple also has more than 100 banks currently utilizing its xCurrent product. However, xCurrent only uses the Ripple ledger and not the cryptocurrency for transactions.
Recently, XRP upstaged Ethereum, becoming the second-ranked cryptocurrency according to market capitalization. Following the xRapid announcement, the token price soared 40 percent in 24 hours. However, a significant pullback saw Ripple slip to third with Ethereum regaining its second spot.
Jed McCaleb Continues XRP Selloff
In another development, Jed McCaleb, formerly of Ripple and now with rival Stellar, is reportedly accelerating his XRP selloff. McCaleb, who has an agreement with Ripple over the sale of his Ripple currency holdings, has sold over half a million XRP tokens within a one-week span ending on Wednesday (September 26th, 2018).
McCaleb reportedly owns over 7 billion XRP ($3.6 billion based on the current XRP price). This selloff, however, seems not to have any adverse negative impact on the recent XRP price performance.
What is your end of year price forecast for XRP? Let us know your thoughts in the comment section below.
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