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Wells Fargo Executive Anticipates Triple-Digit Growth for XRP, Referencing $250 Trillion Market
Since Ripple triumphed in its three-year legal dispute with the United States Securities and Exchange Commission (SEC), optimistic forecasts for XRP have surged. Notably, the latest and perhaps the most optimistic prediction comes from Shannon Thorp, a Business Development Manager at Wells Fargo. In a tweet on the X platform, she indicates that XRP might reach as high as $500.
Thorp further supports her assertive assertion by referencing the Bank of England’s 2023 report on ‘Cross Border Payments.’ The report anticipates that the cross-border payments sector could achieve an impressive $250 trillion market capitalization by 2027. As a result, Thorp contends that a $500 XRP price would be more suitable for accommodating such a vast market, stating, “A $500 XRP price just doesn’t seem like enough to facilitate that amount.”
In addition, Thorp is not the only individual forecasting a triple-digit future for XRP. Another analyst, known as XRP Captain on the X platform, predicts that the altcoin could reach $130 in 2024, attributing this expectation to a triangle pattern observed on the XRP chart.
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Interestingly, this is not Thorp’s first foray into XRP price predictions. She initially shared her optimistic outlook on July 30, 2023. In that detailed post, she speculated that capturing even a 10% market share of the cross-border transactions currently controlled by banks like J.P. Morgan could generate approximately $800 billion. Thus, she remarked, “$1.00 is not enough to move that kind of money.”
Moreover, Thorp elaborates on market dynamics concerning liquidity and supply. “It all boils down to LS; if XRP is $100 at a supply of say only 50B, that makes an LS of $5T. At $500, that yields an LS of $25T. This allows the market room to breathe and ensures that no single company needs to own billions of XRP for daily operations.”
In light of this, Thorp estimates XRP’s price to be between $100 and $500. However, she does not provide a specific timeline, indicating that the “how and when” are inherently connected. Therefore, her latest prediction reinforces her earlier views, this time with an anticipated realization by 2027.
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