Shannon Thorpโs Insights into XRPโs Future
Shannon Thorp recently revisited X, the micro-blogging platform formerly known as Twitter, to share more insights about futureย ofย the XRPย Rippleย (XRP). Itโs criticalย to note that her views are personal and not representative of her employer. In her initial post, she caused a stir in the cryptocurrency community by predicting that XRPย Rippleย (XRP) couldย accomplish a price range of $100 to $500 in the next 4-7 months. On September 6, 2023, Thorp delved deeper into the qualitative factors that could impact XRPโs value, expanding on her previous views.
The Flawed Belief in Utility as the Main Driver
Thorp challenged the prevailing belief that utility alone would drive up XRPโs price. She presented a hypothetical scenario involving two banks using XRPย Rippleย (XRP), arguing that relying on external business efforts for growth is a flawed model. Thorp emphasized that a higher XRPย Rippleย (XRP) price would essentially require fewer tokens for transactions, affecting Liquidity Strength (LS).
The Intentions of XRPโs Creators and Skepticism towards Bitcoin
Contrary to trending belief, Thorp stated that XRPโs creators never intended for itsย price to be driven by external efforts or everyday people buying the digitalย currency. She likewise expressed skepticism towards chart analysts, highlighting their focus on Bitcoinโs volatility, which limitations their capacity to foresee a higher valuation for XRPย Rippleย (XRP). Thorp rejected the correlation between XRPโs value and Bitcoinโs performance, emphasizing that Bitcoinย (BTC) lacks utility and relies solely on retail investors.
The Role of Worldwide Financial Entities in XRPโs Value
Thorp directed her audience to a Federal Reserve link, suggesting that worldwide financial entities like the World Bank, IMF, and BIS play a critical role in determining XRPโs value. She notedย that Ripple has engaged with all of these entities to some extent. Citing a 2023 Ripple New Value report, Thorp revealed that a bulkย of worldwide finance decision-makers believe that cryptocurrency and blockchain technologies will significantly impact business, finance, and society in the near future. The report likewise indicated that over half of these decision-makers are already implementing digitalย currency solutions.
XRPโs Value Linked to Worldwide Financial Needs
In her conclusion, Thorp reiterated that XRPโs value wonโt be be driven by utility or correlated to Bitcoinโs success. Instead, it will be fundamentally linked to the needs of the worldwide financial system. She posited that a moment of wholeย lotย of change will occur, dramatically altering XRPโs value. Nonetheless, she madeย itย clearย that Ripple wonโt initiate this change and encouraged others to conduct their research.
Hot Take
Shannon Thorpโs insights challenge common beliefs about XRPโs value drivers. By emphasizing the role of worldwide financial entities and questioning the utility-driven approach, she offers a unique perspective on XRPโs future. Itโs critical for cryptocurrency enthusiasts to consider numerous viewpoints and conduct their own research to make notified decisions.
Ethan Glober emerges as a visionary weaving the roles of crypto analyst, relentless researcher, and editorial artisan into a captivating narrative of insight. Within the dynamic realm of digital assets, Ethan’s insights resonate like an intricate melody, resonating with curious minds from all walks of life. His ability to untangle the most complex threads of crypto intricacies seamlessly melds with his editorial finesse, transforming intricacy into a harmonious composition of understanding.
