XRP, currently the third largest cryptocurrency after Bitcoin and Ethereum by market cap, is going to gather momentum and its price is likely to reach the key threshold of $1.00 by year-end.
The forecast from Nigel Green, founder and CEO of deVere Group, the world’s largest independent financial advisory organisation, comes as last week XRP achieved a 100 per cent gain, with other major digital currencies also performing well.
Mr Green comments: “There’s been an immensely positive buzz regarding cryptocurrencies in the last few weeks – with the standout being XRP.
“I believe that whilst the crypto market, in general, will be primarily bullish between now and the end of the year, it will be XRP that will continue to gather the most momentum in this period.”
He continues: “XRP will go on to gain more traction than many of its rivals because of its unique features, technologies and problem-solving capabilities.
“Many of these unique characteristics enable it to help businesses, including real estate and tech firms, to save money and speed-up and add more security to transactions.
“This is also why hundreds of financial institutions across the world are already working with XRP – and this is a trend that is set to continue and grow.
“In addition, XRP has been cleverly positioning itself to become a leading international facilitator of global remittances and inflows. This is a huge and growing market, especially in the emerging economies of Latin America, Asia and Africa.”
Mr Green goes on to add: “Cryptocurrencies are the future of money and, clearly, XRP is proving to be one of the most useful cryptocurrencies for businesses, organisations and individuals.
“The use of XRP is set to increase and naturally this will positively impact its price. I think it is likely that we’ll see it hit the $1.00 price level before year-end. It could even be double this in 12 months’ time as XRP adoption and usage soars.”
The deVere CEO concludes: “XRP can be expected to become a major player in the world’s shift away from fiat money over the next few years.”