This could be further pushed once Coinbase makes ripple available on their site.
I thought at first that it may be difficult to see the price rally to $10 after Coinbase puts Ripple online. However, it's possible we may see it go higher. The struggle I'm having is that the market capitalization will be very high to achieve a price of $10-15 or even $20 per XRP. I haven't done the numbers, but I know it's way up there for market cap.
In the back of my mind, I feel that it's possible that a large portion of the Bitcoin market cap could be quickly moved over to Ripple for a number of reasons:
- profit potential
- transaction speed (seconds, not hours)
- transaction fees (pennies vs $12-25 or more for BTC transactions)
- adoption and acceptance worldwide (Japan & India will bring $3-5 Trillion to the market cap far surpassing Bitcoin market cap)
There are a few issues to keep in mind about XRP:
- not fully decentralized
- controlled by the company
- not mined in any way, simply created, like US Dollars
- 100 Billion coins total
- More may be created, although 55 Billion are in Escrow to manage cost/value
An interesting article detailing more about Ripple can be found here:
First target $4.20 and second target around $10 within 2 weeks.
Here is my update below.
Earlier targets of $3.35, $4.20 and $5 have been slightly modified. $4.25 looks likely and may go sideways for a few days after that before we rise again towards $10 by the 15th of January. Or we may rise to nearly $6, then drop back to 61% retracement level, sideways for a few days, then a rise towards $10 by the 15th of January.
BTC is rising right now, a day earlier than I expected. Futures markets should open tomorrow January 3rd and we'll see the rally pushed higher, futures maybe targeting $60k or more.
Today we hit $3.00 and we're well on our way to my $5.00 target. Stay tuned.
I also think that a ripple will never worth 20 usd because the quantity of xrps are too much.
The real question will be since Ripple is not fully decentralized, will their network actually handle the transaction volume as it ramps up?
I see $10 in our future, one way or another, if not early this year, a little later. But probably early, especially if Coinbase makes an announcement.