Shannon Thorpe, a Business Support Manager at Wells Fargo and a popular financial expert, has recently revealed she believes that price of the native token of the XRP Ledger, $XRP, could be trading at $500 in the future.
Thorpe’s prediction is based on Ripple managing to take over cross-border payments using its XRP-powered solutions, which, in a new report, was revealed to be expected to hit $250 trillion by 2027.
In a post on the microblogging platform X (formerly Twitter), Thorpe shared the 2023 New Value Report from Ripple, making the $250 trillion prediction for the cross-border payments ecosystem by 2027. The analyst noted that a $500 XRP price just doesn’t seem like enough to facilitate that amount.”
It’s worth pointing out that the $250 trillion projection pertains to the entire scope of cross-border payments, and it does not solely correspond to XRP’s transactions. This would presume XRP’s utter dominance in the cross-border payment sector, a scenario that remains speculative.
Thorpe is a well-known XRP bull who has earlier this year predicted that the price of XRP could reach anywhere between $100 and $500 in the short term, as the price of the cryptocurrency at current levels would not be sufficient to support the daily transactions of large banks like J.P. Morgan, which moves more than $8 trillion a day.
The staggering $250 trillion projection on Ripple’s report originates from a comprehensive study undertaken by the Bank of England (BoE). The report underscores the critical economic role of cross-border payments.
The Bank emphasized the global uptick in the movement of goods, services, capital, and people over recent decades. This interconnectedness has largely driven the growth in cross-border payments, meaning the sector’s valuations of about $150 trillion in 2017 have now risen to over $250 trillion by 2027.
Featured image via Unsplash.
