XRP Price Can Hit $100-$500 in 4-7 months, Wells Fargo Treasury Manager Says
Using Liquidity Strength as a key metric, the expert provided a detailed breakdown of her calculations before coming to her prediction.
Wells Fargo Treasury manager Shannon Thorp predicts that XRP will hit between $100 and $500 over the coming four to seven months. This comes following Ripple Labs’ victory over the United States Securities and Exchange Commission (SEC) in a lawsuit alleging that Ripple had conducted an unregistered securities offering through the sale of its XRP tokens worth $1.3 billion. The regulator stated that XRP was a security and as such, falls under its jurisdiction.
Ripple’s partial victory against the SEC has sparked online price predictions. In a lengthy post on social media platform X, Thorp noted that the XRP community seems to be divided in their predictions. She observed that one side was basing their predictions on “past and trends that follow Bitcoin to draw short-term price predictions”. The other side, however, appears to be focused on utility, “believing that partnerships and the replacement of antiquated systems will drive price”.
Wells Fargo Treasury manager dismissed both techniques as flawed because they rely on traditional securities logic when, according to the recent court ruling, XRP is not a security. Using Liquidity Strength as a key metric, Thorp provided a detailed breakdown of her calculations before coming to her prediction.
People have long asked what will be the price of $XRP, when will this “utility” come? In my opinion, now more than ever I see a divided #XRPArmy! One side looking at only charts, taking cues from the past and trends that follow Bitcoin to draw short term price predictions. Whilst…
— Shannon Thorp (@thorpshannon87) July 29, 2023
“My price prediction is anywhere from $100 – $500 near the short term (4 -7 months) why? It all boils down to LS if XRP is $100 at a supply of say only 50B that makes an LS of $5T and at $500 that gives us an LS of $25T. This gives the market room to breathe, allows for growth, and ensures no one company needs to own billions of XRP to perform day-to-day operations,” she wrote.
On July 13, the court ruled that XRP sold on exchange platforms did not qualify as a security. Following this news, the token’s price spiked by as much as 98% to reach a high of $0.93, with several exchanges reporting a rise in XRP market activity. Several crypto exchanges, including Coinbase and Kraken, also announced that they would be re-listing XRP.
Meanwhile, Ripple Labs anticipates increased use of its token and On-Demand Liquidity (ODL) product for cross-border payments by US financial institutions following the ruling. Ripple’s general counsel Stu Alderoty stated that he was hopeful that potential clients would reach out to the firm this quarter and that “some of those conversations will actually turn into a real business”.
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Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student.
She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.
