If we talk about mantras, few are repeated both in the cryptocurrency market and astronomical predictions on the price of XRP.
It is not the first time that an entrepreneur or market analyst is heard saying that Ripple Labs cryptocurrency is loading fuel to travel “to the moon” (To the moon, in Spanish) and be almost as valuable as Bitcoin (BTC) or more.
Now, those who add to these projections are the Dom and Phil Kwok brothers, co -founders of the Easya educational application, whose ecosystem recently exceeded an assessment of 4,000 million dollars.
Within that frame, Dom Kwok was overwhelming to say: “XRP goes to $ 1,000 by 2030”.
The first thing to mention is that, at the time of publication of this note, XRP is negotiated at $ 3.14, 13% below its historical maximum (ATH) of $ 3.65.
Another issue to keep in mind is that, so that it reaches the level that dom kwok projects, XRP market capitalization should exceed 59 billion dollars (Trillionsin English)a figure that far exceeds the current value of gold and BTC. This metric puts in perspective the magnitude of the prognosis (and the difficult compliance, at least in the short or medium term).
As Cryptonotics explained, market capitalization is an important metric that reflects the level and size of an asset in the market. It is obtained by multiplying the price of each unit by the total amount of available currencies. For example, if XRP is worth 2 dollars and there are one million in circulation, its total value would be 2 million dollars.
Both brothers argue that they are optimistic with Ripple for the advances he has achieved in recent times. In this regard, Dom Kwok explains: “They have been very meticulous by obtaining multiple licenses worldwide to make sure they are well positioned to lead the space when institutions really enter the ecosystem of digital assets, something that is already happening thanks to the stablocoins. That is a huge case, and Ripple already has their own stablecoin, rlusd, which is incredible. To our community about it.
Among the latest developments, it is highlighted that Ripple requested a national bank license. If this presentation is approved, Its stablecoin rlusd would operate under the direct supervision of the Office of the Comptroller of the Currency (Occ), which could significantly increase the confidence in the asset.
In addition, Ripple sealed an alliance with Ctrl Alt to advance in the token of properties in Dubai on the XRP Ledger, with support of the local land department. It was also confirmed that Bny Mellon will act as the main custodian of the reserves that support their stablecoin.
On the other hand, it must be mentioned that expectations grow around a possible approval of the XRP Stock Exchange (ETF) funds in the United States, which would open the doors to a new wave of institutional investment.
For Phil Kwok, meanwhile, XRP is about to experience a “defi summer” (summer defi, in Spanish) or defi revolution. In that line, he says: “If we are talking about XRP, and we also have to talk about Stellar, what they are doing in this space is very important. We saw it in Ethereum, which led its market capitalization to hundreds of billions. But Stellar and XRP continue to have relatively moderate capitalizations and have not yet lived that moment.”
The “Defi Summer” was a period, mainly during the summer of 2020, in which decentralized finances (Defi) experienced explosive growth in users, volume and value deposited in protocols such as Ethereum. It was a key stage that promoted mass adoption and the valorization of many projects, such as Uniswap, Aave and Sushiswap, among others, and that marked a before and after in the ecosystem.
When talking about XRP and Stellar, they could live their own “defi summer”, it refers to the fact that These networks have a potential to grow significantly in the deficient fieldexpanding the adoption of applications, stablecoins and other alternative financial services.
