Renowned financial expert Shannon Thorp raises questions about XRP's potential value. According to Thorp, a $500 price tag won't cut it if XRP aims to facilitate the projected $250 trillion in cross-border payments.
While this ambitious prediction stems from a Bank of England (BoE) study emphasizing the economic significance of cross-border payments, there are essential factors to consider:
🌐 A Bigger Picture: BoE's report highlights the exponential growth of cross-border payments due to global movement in goods, services, capital, and people. The estimate suggests payments, which were valued around $150 trillion in 2017, could surpass $250 trillion by 2027.
📈 Thorp's Perspective: Shannon Thorp argues that for XRP to handle $250 trillion in transactions, its price per token would need to be substantially higher, around $2,500 each, given the 100 billion XRP tokens in circulation.
🤔 But There's More: It's crucial to understand that this prediction covers all cross-border payments, not exclusively those relying on XRP. The assumption here is that XRP would be the sole currency used, which presents a significant challenge.
Past Insights: Thorp has previously emphasized that XRP's value should not rely solely on investors or external factors. Instead, he advocates for strategic partnerships with major financial institutions to solidify XRP's role as a global financial powerhouse.
The lively discussions surrounding this topic reflect the strong convictions within the XRP community. Some argue that the post doesn't factor in the derivatives market, suggesting even greater potential for XRP.
While opinions vary, one thing is clear – XRP continues to captivate the crypto world with its potential to reshape global finance.
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