- Aljarrah predicts XRP price surge is an inevitable necessity.
- Global demand outpaces the insufficient supply of XRP.
- Influential actors’ involvement could significantly boost XRP price.
Black Swan Capitalist’s founder, Versan Aljarrah, has recently made a bold prediction about the future of XRP. In a world that is increasingly embracing digital assets, Aljarrah argues that the current affordable price of XRP is unsustainable due to the rising global demand for this digital asset. Consequently, he believes that a higher price is not just an inevitability but a necessity to maintain the required liquidity.
The Demand-Supply Gap: A Wake-Up Call for Skeptics
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The crypto community has been abuzz following a recent tweet from Aljarrah. He underscored that the existing supply of XRP needs to catch up to the escalating demand for its utility. Aljarrah took to Twitter, stating, “The current supply of XRP is insufficient to cater to the burgeoning demand for its utility, thereby making a price hike not merely a probability but a requisite to guarantee the essential liquidity to satisfy this worldwide demand.”
This scarcity of supply, according to Aljarrah, necessitates a higher price. His remarks serve as a wake-up call for skeptics who have yet to grasp this economic reality.
Influential Actors and the Rising XRP Price
Comment from Shannon Thorp, a Treasury Management team member at Wells Fargo, prompted Aljarrah’s statements. Thorp argued that XRP could not remain cheap, noting that the involvement of top institutions like the US Federal Reserve Banks and businesses will render the retail segment’s 1% share insignificant. Thorp expects a significant surge in its price as these influential actors invest in XRP and bring more utility to the token.
The Urgency for a High XRP Price
The founder of Black Swan Capitalist, Versan Aljarrah, underscores the pressing need to increase XRP’s price. As global recognition of its potential grows, so does the demand for XRP, necessitating a price adjustment to ensure adequate liquidity.
According to CoinMarketCap data, XRP’s current trading price is $0.707, with a circulating supply exceeding 52 billion and a market capitalization surpassing $37 billion. Yet, with the surge in demand, a reevaluation of this price may be imminent.
XRP/USD 1-day price chart (Source: CoinMarketCap)
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It remains to be seen how the market will respond to these predictions and whether XRP will experience a significant price increase in the future based on high demand. The need for a higher price is becoming increasingly apparent as demand for XRP’s utility grows.
Wrapping up, the prospects for XRP appear bright, with market trends suggesting a possible price escalation. Yet, the accuracy of these forecasts remains in the hands of time. As it stands, the cryptocurrency sphere is keeping a vigilant eye on the unfolding events around XRP.