Ripple hits $3.80
https://coinmarketcap.com/currencies/ripple/
Is it being artificially inflated or is this genuine growth? Where do you see its cap this year? Considering the circulating supply I find it hard to believe it pushes more than $10-$20 in its lifetime.
Just shows you how much money major banks have got to throw around.
Apparently South Korea and Japan are the ones propping up XRP at the moment!
I'm pretty new at this but to me it looks that no matter what it's based on at the end of the line all that matters what is the perceived value of it. And this perception of value can shift in all kinds of illogical and unpredictable ways. We are still trading sea shells and it works because we collectively believe in the buying power of them although they don't have none or very little inherit value.
But to answer your question - it just might. If it gets implemented the way they actually want it to be, the fact that it could be adopted by banks in China or major credit card companies the perceived value could easily double just on hype alone. Might be good for a short term investment.
Then again I'm just talking out of my ass...
Perceived value is the same with the fiat economy too- gold has no inherent real value beyond that which is ascribed to it, and by extension, the US dollar. However you're right in that cryptocurrencies are currently massively overvalued in some avenues- this is mainly because people are speculating on many as an asset/CFD/share, rather than an actual exchange currency.
Yes I think XRP could hit $10 by the year's end up I don't see it growing much beyond this personally, even with big national uptake. It just can't, physically, grow to such levels as LTC, ETH, BTC.