As the legal battle between Ripple and the United States Securities and Exchange Commission (SEC) gets closer to a conclusion, crypto enthusiasts have been speculating massive price trends for XRP.
Some XRP community members and other crypto users have been speculating that XRP could surge up to a $1000, $100, or $50 price; this assertion does not seem to go down well with Molly Elmore, a renowned expert in the crypto industry.
Molly Elmore Argument
Molly Elmore’s assertion got prompted by a tweet from a pseudonymous crypto analyst popularly known as Crypto Assets Guy, who claimed that XRP would hit a $5 market value once the Ripple-SEC lawsuit is concluded.
Recall that in our previous report, Mason Versluis, a closely followed crypto podcaster and founder of Gold Squad, made a similar assertion based on the fact that the asset is the only one to ever surpassed Ethereum (ETH) in the crypto market ranking.
Per Elmore, XRP’s long-term value seemed paramount. Elmore tweeted, ” A high price for XRP will not come from speculative investors looking to flip the asset on an exchange for profit.”
Furthermore, the crypto expert noted that XRP’s significant value lies in its adoption as a universal finance tool, implying that it could become an option for storing wealth.
Elmore summarized her assertion with the idea of a virtuous cycle that would skyrocket XRP to the top of the charts as the digital asset majorly designed for cross-border remittance attracts more users.
A high price for XRP will not come from speculative investors looking to flip the asset on an exchange for profit.
Instead, once XRP becomes widely adopted to move and exchange value, it becomes an attractive place to store wealth.
At this point, the virtuous cycle kicks in. pic.twitter.com/wKrEtjCn05
— Molly Elmore (@mollyelmore22) May 29, 2023
John Deaton’s Earlier Perspective
John Deaton, the lawyer representing over 75,000 XRP holders in the ongoing class action lawsuit, had stated in our previous report that the fear of missing out (FOMO) is unlikely to kick in until XRP surpasses the $2 selling price. The attorney also noted that a $1 market value for XRP is enough to convince potential investors.
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