Recent discussions surrounding the future price of XRP have prompted financial expert Shannon Thorp to offer a unique perspective on the matter. Thorp emphasized the need for a qualitative assessment of XRP’s value, questioning the conventional belief that utility alone will drive its price.
Thorp introduced a hypothetical scenario involving two banks using their respective XRP for payments. While many believe that this utility would naturally boost XRP’s price, she challenged this notion. According to Thorp, utility affects the Liquidity Strength (LS) of the other bank and can impact the amount of XRP required for transactions. However, she argued that this growth model heavily relies on the efforts of businesses for sustained upward momentum.
Continuation of https://t.co/1BD2B2cw6S
There has been some chatter on X as it relates to the price prediction I made and its timeframe. In a later post I will address the timeframe in greater detail. Let's take a look at the price qualitatively rather than a quantitative view.…
— Shannon Thorp (@thorpshannon87) September 6, 2023
Read Also: John Deaton Stresses How SEC Lawsuit Hurts XRP Adoption by Amazon Pay
XRP’s Unique Value Proposition
Thorp highlighted that XRP’s founders did not intend for its value to be solely driven by external efforts or retail investors. She also dismissed the notion that XRP’s value should be tied to the performance of Bitcoin, highlighting that Bitcoin lacks utility and is primarily driven by speculative value. Thorp contended that XRP’s true potential lies in its partnerships with prominent financial organizations and its role in promoting global financial stability.
Drawing attention to a page on the US Federal Reserve’s website, Thorp pointed out that Ripple, the payment firm associated with XRP, has engaged with numerous influential financial entities. She argued that XRP’s price will not be influenced by speculation or its status as a “meme token.” Instead, its value will come from the support of esteemed financial groups representing the global economy.
Growing Adoption in the Business World
Thorp cited a report from Ripple that highlighted the growing impact of crypto on finance. The report revealed that a majority of global finance decision-makers believed crypto would significantly shape the industry in the coming years.
Additionally, over half of the surveyed professionals reported plans to implement crypto solutions in their firms. Thorp theorized that if Ripple’s report referred to entities like the World Bank, IMF, BIS, and the Federal Reserve System, it would signal a bullish outlook for XRP.
XRP as a Symbol of Global Economic Stability
In conclusion, Thorp expressed her belief that XRP’s price will not be dependent on external efforts or utility alone. She dismissed the idea that its fate is tied to Bitcoin’s performance. Instead, she posited that XRP’s value will be closely tied to the economic requirements of the world’s financial system.
According to Thorp, XRP will continue to grow as a symbol of economic freedom and stability on a global scale.
Follow us on Twitter, Facebook, Telegram, and Google News
