Wednesday, June 19, 2024
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Black Swan Capitalist Founder States Why High XRP Price Not Just an Inevitability but Necessity

In a recent tweet, Versan Aljarrah, the founder of Black Swan Capitalist, who some days ago said XRP’s true value lies beyond the chart, recently made another bold prediction regarding the future of XRP in terms of price.

According to Aljarrah, the prevailing affordable price of XRP is not sustainable as the global demand for this digital asset continues to rise. He argues that the growing demand for XRP utility is outpacing its available supply, necessitating a higher price to maintain the required liquidity.

Read Also: Google Bard Predicts State of XRP Price After Ripple’s Legal Victory

Insufficient Supply to Meet Soaring Demand

Aljarrah emphasizes that there simply isn’t enough XRP to meet the ever-increasing demand for its utility. He believes that this scarcity of supply makes a higher price not just an inevitability but a necessity. Aljarrah’s remarks serve as a wake-up call to skeptics who have yet to grasp this economic reality.

Aljarrah’s statements were prompted by a comment from Shannon Thorp, a Treasury Management team member at Wells Fargo. Thorp argued that XRP cannot 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. As these influential actors invest in XRP and bring more utility to the token, Thorp expects a significant surge in its price.

Read Also: ChatGPT Elaborates On What Ripple’s Victory Means For XRP Price

A High XRP Price is a Necessity

The BlackSwanCapitalist founder stresses that the urgency for a high XRP price has never been more apparent. As the rest of the world catches on to its potential, the demand for XRP escalates, requiring a price that can sustain the necessary liquidity.

Based on data from CoinMarketCap, XRP is currently trading at $0.7044, with a circulating supply of over 52 billion and a market cap of over $37 billion. However, as demand continues to surge, the current price may not be sustainable.

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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.


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Adedoyin Aka
Adedoyin Aka
Adedoyin is a graduate of Law and a Crypto & Blockchain expert who strongly believes that Blockchain is the future. At TimesTabloid, she focuses on crypto and blockchain educational content.
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