Wells Fargo Manager Predicts XRP Price Will Reach $500, Here’s When | Bitcoinist.com


Ever since Ripple emerged victorious in its 3-year-long legal battle with the United States Securities and Exchange Commission (SEC) over the security status of XRP, the bullish predictions for the altcoin have risen rapidly. The most recent and perhaps the most bullish of these predictions comes from a Wells Fargo Manager, who has put forward a possible three-figure price target for the digital asset.

XRP Price Could Rise To $500

In a September 11 tweet on the X (formerly Twitter) platform, Shannon Thorp, a Business Development Manager for American megabank Wells Fargo, has painted a rather bullish picture for XRP. The post sees the Wells Fargo manager predict that the XRP price could rise as high as $500.

How To Get Free Crypto  

Like most analysts, Thorp backs up her prediction with a reason why she expects the XRP price to rise this high. In this instance, Thorp points to the Bank of England’s ‘Cross Border Payments’ report in 2023 that puts forward the cross-border payments space to be a $250 trillion market by 2027.

Thorp posits that such a valuation could see the XRP price crossing $500. “A $500 XRP price just doesn’t seem like enough to facilitate that amount,” she explains.

Interestingly, the Wells Fargo manager is not the only one who sees a triple-digit future for the XRP price. Another analyst known as XRP Captain on X has also predicted that the altcoin could reach $130 in 2024 due to a triangle pattern that emerged in the XRP chart.

Thorp Is Doubling Down On This Prediction

This is not the first time that the Wells Fargo manager has made such a prediction for the digital asset. The first time was back on July 30, 2023, when Thorp made an elaborate post explaining why she believed that the XRP price could climb as high as $500.

Coinbase Banner  

In this initial prediction, she points toward Ripple being able to capture even a small percentage, e.g. 10%, of the cross-border transactions that banks such as J.P. Morgan are currently doing. Such market share would bring around $800 billion, to which Thorp explains that “$1.00 is not enough to move that kind of money.”

Thorp further writes that “It all boils down to LS if XRP is $100 at a supply of say only 50B that makes an LS of $5T and at $500 that gives us an LS of $25T. This gives the market room to breathe, allows for growth and ensures no one company needs to own billions of XRP to perform day to day operations.”

Given this, the Wells Fargo manager puts the price of XRP at $100-$500, although with no time frame as she explains the “How and when” are tied together. So Thorp’s recent forecast is really just a doubling down on her previous prediction, but with XRP expected to reach this figure in 2027 this time around.

Token price falls to two-month lows | Source: XRPUSD on Tradingview.com
Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from CoinMarketCap, chart from TradingView.com

Go to Source
Author: Best Owie

FreeBitcoin Banner  

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.