Well Fargo Bullish on Ripple, Could XRP Hit $500?

September 14th, 2023 at 6:11 pm UTC · 3 min read

Well Fargo Bullish on Ripple, Could XRP Hit $500?

The recent prediction by Wells Fargo analyst Shannon Thorpe that Ripple XRP could skyrocket to as high as $500 in the next four to seven months has ignited a flurry of discussions and debates in the cryptocurrency community.

This article takes a deep dive into the figures, logic, and assumptions behind this bold prediction, exploring the factors that could potentially drive Ripple to such unprecedented heights.

Shannon Thorpe’s prediction ranges from $100 to $500 for XRP in the near short term (4-7 months).

This forecast is based on several factors, including the recent ruling that XRP is not a security, the potential for XRP to compete with systems like SWIFT, and the liquidity strength (LS) that could be achieved at different price levels.

Well Fargo Bullish on Ripple, Could XRP Hit $500?

Factors Driving the Prediction

Shannon Thorpe’s prediction hinges on several key factors:

  • Ripple XRP’s Non-Security Status: The recent ruling that XRP is not a security has brought fresh momentum to the cryptocurrency, diminishing fears around enforcement actions from the SEC.
  • Competition with SWIFT: Thorpe suggests that if Ripple, through its innovation and partnerships, were able to grab 30% of SWIFT’s value, that would translate to $2.1 trillion in daily value. This comparison with SWIFT, which handles about $7 trillion a day, forms a significant part of the prediction.
  • Liquidity Strength (LS): Thorpe’s analysis includes a detailed examination of liquidity strength, considering factors like the number of XRP tokens, the action of messaging and settling, and the benefits of using XRP. She calculates the LS at different price ranges, from $100 to $500, considering various scenarios and assumptions.
  • Cross-Border Transactions and More: The prediction also takes into account cross-border transactions, derivatives, real estate, CBDC, foreign countries, banks, projects, technical parallels, and NFTs.
  • Market Reactions: The XRP ruling led to a surge of 97.1% in the token’s price, hitting a high of $0.933. The relisting of XRP by exchanges like Coinbase and Kraken has also boosted its trading volume.

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Assumptions and Considerations

Shannon Thorpe’s prediction that Ripple XRP could hit $500 is a bold and eye-popping forecast that has captured the attention of the cryptocurrency community. The prediction is not a mere speculative statement but a detailed and thought-provoking analysis based on various factors, assumptions, and considerations.

The prediction also considers global influences and market dynamics, such as adoption and Integration. Ripple XRP’s integration into various platforms and adoption by different projects are a part of this influence. Competition and Market Position. XRP’s position in the market and its competition with other cryptocurrencies. Regulatory Landscape, which includes the evolving regulatory landscape and its impact on XRP’s future.

The prediction takes into account XRP’s non-security status, its potential to compete with systems like SWIFT, the concept of liquidity strength, cross-border transactions, market reactions, global influences, and more. It paints a picture of a possible future where XRP reaches unprecedented heights, driven by innovation, adoption, competition, and market dynamics.

The coming months will reveal whether this bold prediction will materialize, shaping the future of XRP and potentially redefining its place in the cryptocurrency landscape. Whether or not Ripple XRP hits $500, this prediction has undoubtedly added a new dimension to the discussions and debates surrounding this prominent cryptocurrency, reflecting the dynamic and multifac

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