Ripple XRP: £1.51!
I'm still getting the hang of this STEEMIT, so bear with me!
Anyway, I'm very excited to see that Ripple (XRP), the cryptocurrency of banks (as it were), seems to finally be taking off. It's currently £1.51, up 800% (!) from £0.1878 on the 11th December. But what is the maximum the price could go?
From a supply point of view, we're talking about £5 if Bitcoin is around £12,000. This is because there are currently around 2350 times more XRP in circulation than Bitcoin. On this basis, if Bitcoin were to reach the maximum that McAfee thinks it will, that is, a million dollars (=£740,000), then Ripple might theoretically be worth a maximum of £300.
There is so much speculation involved in that calculation, so many ifs and maybes, that we might as well be speculating on the chances of life in the universe. It's a tempting vision, tho, as even someone like me who could only invest roughly seventy-six pence in Ripple would still be able to afford that luxury cruise after all. But of course, it isn't that simple: Litecoin has a supply four times that of Bitcoin, but is worth around sixty times less, and Bitcoin Cash has the same supply as Bitcoin but is currently around 1/5.5 the value of Bitcoin. Plus, does anyone really think Bitcoin, or indeed any cryptocurrency, will be worth a million?
So what do you guys reckon? Where is Ripple headed? Will it one day be worth £10? £100? £1000!? Will Ripple bin off XRP in the end? Or has it basically maxed out right now? As for me, I am more-or-less forced into holding on for dear life as I need huuuuge percentages to make anything out of it anyway!
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