Here we are looking at a very strong which will turn 666 Days old on March 20/21 as it has supported XRP since early 2017
With potential target being at $172, it's is by all means not confirmed and can only be visualized through the unconfirmed resistance line of this widening , however in reality value can rise to either lower or higher number.
I'm also keen on pointing out that despite all negativity and misinformation back in 2016 and 2017, XRP did manage to rise from $0.005 to over $3.42 marking nearly 65,000% in profit within 292 days. This time around however it's different. This time value of XRP is expected to rise not only due to speculation but real use case. Let me explain...
Ripple the company plans on introducing XRP token to banks at some point this year for settlement and liquidity purposes through RippleNet (Xrapid, Xcurrent 4.0) as soon as they get official word of regulations clearing them and banks to begin use crypto token for in bank use. As a result we will see increased being moved through XRP Ledger therefor increasing demand for it from retail investors and financial institutions. To ensure proper liquidity on the exchanges and proper working network, price would absolutely need to be in the triple to quadruple digit area at least.
To visualize it a bit better and understand the need for higher value per XRP, think about it this way...
Price per XRP as of time that I'm making this chart is $0.32
In order for a financial institution to transact $1,000,000 today, it would need to free up and have 3,125,000 XRP available just for that one transaction
At $1/XRP that same institution would need 1,000,000 XRP
At $10/XRP that same institution would need 100,000 XRP
At $100/XRP that same institution would need 10,000 XRP
At $1000/XRP that same institution would need 1,000 XRP
And that's just the payments we're talking about, if you'd knew what was on the horizon, you'd be truly shocked and surprised!
Below you will find several other helpful XRP charts