Holding Just 1,000 ($600) Ripple’s XRP Tokens Could ‘Be Life-Changing’: Here’s Why

2024-7-28 01:14

YouTube channel, EDO FARINA XRP (Alpha Lions Academy), with more than 12,000 subscribers released a video to discuss how holding just 100 XRP tokens could be life-changing. XRP is currently worth around $0.6, which means that one only needs $600 to secure 1,000 tokens. 

Farina’s thoughts are based on various factors that could make XRP more useful and its price spike.

The analyst discussed Russia’s plan to create a financial system that is similar to SWIFT. Russia has also permitted the use of Ripple for cross-border payments and the management of KYC data.

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Another major factor that can trigger the price growth is that BRICS nations (Brazil, Russia, India, China, and South Africa) are partnering with XRP to create On-Demand Liquidity (ODL) corridors.

Ripple is also fully decentralized. The XRP ledger is run by validators, and it is not under the control of Ripple.  The speaker thinks XRP will be key in the new financial system. 

Read Also: Michael Saylor Explains Bitcoin’s Superiority, Sees a Spike to $13 Million Per BTC: Here’s His Timeline

Calculations for Future Value

The analyst says that if the price of XRP reaches its last all-time high of $3.84. A $600 investment in XRP now, which is 1,000 XRP, will be worth around $3,840.

Farina is of the thought that XRP has a higher potential return compared to traditional assets like real estate. He also believes that XRP will play a key role in the future of finance. 

There is also a chance that XRP will get adopted by SWIFT or replace SWIFT. If XRP can get 1% of SWIFT’s $1.2 quadrillion cross-border payments market, its value is expected to exceed $100.

With 1,000 XRP tokens, $100 worth of XRP will be $100,000. 

Comparisons with Other Cryptocurrencies

The analyst thinks that Ripple has some advantages over cryptos like Ethereum and Bitcoin based on different factors.

First, Bitcoin is speculative, while Ethereum has no hard cap on its supply. However, XRP is deflationary, carrying constant token burns. 

Most XRP supply is locked in escrow, reducing the number of tokens in circulation. Central banks and institutions like the Bank of International Settlements and the International Monetary Fund also hold significant portions.

Additional tokens and transactions on the XRP Ledger can lock more XRP, increasing scarcity. Burned XRP through transactions also contributes to deflation, potentially driving up the price due to reduced availability.

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The post Holding Just 1,000 ($600) Ripple’s XRP Tokens Could ‘Be Life-Changing’: Here’s Why appeared first on CaptainAltcoin.

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xrp could life-changing holding tokens subscribers video

Источник: captainaltcoin.com

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