Despite recent happenings in the crypto space that saw several crypto projects struggle to remain afloat, XRP seemed undisturbed as the coin continued displaying remarkable market statistics.
In a recent turn of events, while Ripple is still hoping for a positive outcome in the ongoing lawsuit filed against it by the United States Securities and Exchange Commission (SEC), several top crypto bosses have asserted that XRP is expected to be worth more than its current value notwithstanding the crypto market’s bearish outlook. This necessitates the need for the assessment of the XRP fair market value.
Read Also: Crypto Strategist Ali Martinez Reveals Most Accurate XRP Price Predictor
Based on findings, Valhil Capital’s research aimed at determining XRP’s fair market value began nearly two years ago, and the Valuation Committee, which consists of finance experts, was instituted late last year. So far, the committee set up to verify the fair market value of XRP leveraged six different models for results.
This week’s results were impressive, with a low fair market value of $3,500 and a high of $22,000. However, Valhil Capital noted that this fair market value should not be considered price prediction. Instead, he said it could serve as a rough price estimate of XRP’s market price barring impacts from the SEC litigation and other external factors.
It’s worth noting that the fair valuation was solely based on retail and institutional adoption of XRP globally as a store of value. On the other hand, exchange platforms and several crypto firms like Coinbase and Kraken have excluded XRP from its platform to prevent possible legal actions from the SEC.
From a low fair market value perspective of $3500, one could purchase 100 XRP tokens for just $350,000, while 1,000 XRP would sell at a massive $3.5 million.
In comparison to XRP’s current selling price implies that XRP would likely spike by 706,399%. On the other hand, a high fair market worth of $22,000 would require a little above 45 XRP to attain millionaire status.
Read Also: Based on Ripple CTO’s Assumed ATH, Analyst Predicts $27 XRP Price. Here’s the Timeline
In other news, the authenticity and possibilities of this fair market valuation got challenged by crypto chiefs. A former Ripple Director, Matt Hamilton, articulated disbelief over the document’s legality when the cover was unveiled last month.
Per Hamilton, the Athey & Mitchnick (A&M) Model, which is one of the paper-adopted models, remains the most significant model he has ever seen. The A&M model recorded a fair market worth between $6.37 and $32.91 for XRP. Regardless of the contrasting opinions and price indications, XRP would have had a much higher value if the SEC lawsuit never occurred.
Although XRP slightly lost the $0.5 support a couple of hours ago, it has recently resurged to beat the crucial resistance. At the time of filing this report, XRP is trading at $0.506, with a relatively 4% price uptrend in the last 24 hours according to CoinMarketCap.
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