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According to finance expert Shannon Thorp, a $500 price for XRP will not be enough to target the projected $250 trillion for the cross-border payments industry by 2027, as stated in a recent tweet. Ripple‘s estimate of $250 trillion is based on a study by the Bank of England (BoE), highlighting the economic significance of cross-border payments.
The BoE report emphasizes the significant growth of cross-border payments due to the increase in global movement of goods, services, capital, and people in recent years. The BoE’s price estimate shows that payments, which were worth approximately $150 trillion in 2017, could exceed $250 trillion by 2027.
Thorp’s Sensitivity
Thorp argues that if XRP is to facilitate a $250 trillion payment, its price should be much higher than $500. Thorp’s perspective may stem from the fact that there are 100 billion XRP tokens in circulation. Assuming that all XRP tokens are used to meet the $250 trillion in transactions, Thorp believes that each token should be worth an average of $2,500.
However, it is important to note that this prediction is not only for payments facilitated by XRP but for all cross-border payments. This $2,500 estimate assumes that XRP is the only currency used, which is certainly not possible.
XRP’s Past Predictions
It is important to note that Thorp has previously argued that the value of XRP goes beyond its utility. According to him, the creators of XRP did not want its value to be influenced solely by investors or external factors. Instead, he believes that XRP needs partnerships with major financial institutions. He also believes that XRP should solidify itself as a global financial power that supports financial stability.
The responses to the post demonstrated the strong belief of the XRP community. One user thanked Thorp and implied that XRP could rise further by stating that the post did not include the derivatives market.
Another user, claiming to be an XRP opponent, responded by stating that numbers don’t lie and, based on calculations made three months ago, the value could range from $9,000 to $10,000 per token.
