Versan Aljarrah, the founder of Black Swan Capitalist and a prominent YouTuber, recently ignited a fervent discussion on Twitter about the future prospects of XRP, the digital asset associated with Ripple. Aljarrah hinted at a scenario where XRP’s current budget-friendly price might not endure the test of time, given the escalating global demand for the utility it offers.
Aljarrah’s tweet conveyed a sense of urgency, suggesting that the existing supply of XRP might not be sufficient to meet the surging worldwide thirst for its use cases. According to his view, this potential supply-demand imbalance could inevitably lead to an upward price surge for XRP, not just as a likely scenario but as a necessity to maintain the liquidity required to cater to the increasing demand.
Despite XRP’s recent dip below the $0.7 mark, Aljarrah’s faith in the digital asset remains steadfast. He expressed his unwavering conviction on Twitter, emphasizing that XRP’s true value transcends mere price charts. In support of his perspective, he shared a video featuring insights from Raoul Pal, the esteemed CEO and founder of Real Vision.
On July 18, 2023, Shannon Thorpe, a member of the Treasury Management team, also shared her perspective on the future trajectory of XRP. While acknowledging the impossibility of predicting exact price movements, Thorpe asserted that XRP’s current affordability might not be sustainable in the long term. She opined that retail investors could eventually find themselves priced out of the market as XRP’s price potentially climbs higher.
Thorpe dismissed theories that predicted a price surge followed by a crash due to mass selling, highlighting that retail investors constitute only about 1% of the XRP space. As more significant players such as the Federal Reserve, banks, and businesses enter the XRP market, the influence of this 1% will diminish significantly.
Elaborating on the dynamics influencing XRP’s future price stability, Thorpe pointed out that having a large quantity of XRP facilitates the participation of numerous banks, while a higher price enables higher-value transactions with less XRP. Due to the limited supply of XRP, these factors are expected to play crucial roles in supporting its price stability moving forward.
As the conversation around XRP’s future continues, market participants and enthusiasts closely monitor developments, considering the insights from notable figures like Aljarrah and Thorpe. With XRP’s utility gaining traction globally and major institutional players expressing interest, the digital asset’s future trajectory is poised to be influenced by various factors, shaping its journey in the evolving world of cryptocurrencies.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.