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HomeCrypto NewsMarketWells Fargo Treasury Manager Predicts XRP to Hit $100 to $500 in Next 2 to 7 Months

Wells Fargo Treasury Manager Predicts XRP to Hit $100 to $500 in Next 2 to 7 Months


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Wells Fargo Treasury Manager Shannon Throp predicts XRP to reach a price range of $100 to $500 in the next two to seven months.

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Rob Cunningham, the founder of KUWL Research, recently brought attention to an intriguing XRP price projection made by Shannon Thorp, Treasury Manager at Wells Fargo. The prediction has ignited varied responses, suggesting a significant price surge for the asset.

Thorp’s commentary on XRP’s price projection is comprehensive and thought-provoking, ultimately setting a $100 to $500 price forecast for XRP from September 2023 to February 2024. She begins by acknowledging the longstanding curiosity surrounding the price of XRP and the anticipation of its utility finally coming to the forefront. 

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Interestingly, she highlights a divided sentiment within the XRP community, with one faction relying on chart analysis and historical trends for short-term price predictions. At the same time, the other emphasizes utility and the transformative potential of partnerships and system upgrades.

XRP is Not a Security

However, Thorp takes a different approach altogether, asserting that both camps have missed the mark in their predictions. 

She points out that XRP is not a security, courtesy of the recent court ruling. As a result, she urged the community to abandon making price predictions based on traditional security valuation models. Instead, she advocates evaluating XRP’s value based on its utility and real-world applications.

Thorp also addresses Valhil Capital’s white paper on XRP price, acknowledging the shock it may have caused among readers. As reported by The Crypto Basic last month, the white paper projected an XRP fair market value of $3.5K to $22K.

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While Thorp refrains from claiming expertise in the complex mathematics presented in the paper, she stressed that the disbelief from the community is due to constraints positioned in charts.

XRP’s Utility

Thorp then turns her attention to XRP’s utility by comparing it to SWIFT. She reveals that while SWIFT handles approximately 44.8 million messages a day, it is only half of what XRP can accomplish, highlighting the untapped potential of the asset. 

Furthermore, she notes that XRP’s rapid settlement time, taking just 1 to 5 seconds makes it ideal for facilitating transactions more efficiently than traditional systems. 

In Thorp’s analysis, she first considers the potential scenario where a single entity owns all 100 billion XRP. This helps illustrate the necessity for a broader perspective when assessing XRP’s liquidity potential. 

To provide a more realistic assessment, she considers the distribution of XRP across various banks, liquidity providers, governments, and exchanges.

Thorp proceeds with the calculations, assuming there could be around 50 to 75 billion XRP in circulation at any given time, supporting liquidity strength. She takes the hypothetical case of 75 billion XRP in circulation for illustration purposes.

Next, Thorp envisions spreading this amount across 300 to 1000 different banks, liquidity providers, and governments. To calculate the liquidity strength per bank or liquidity provider, she divides the total circulating supply (75 billion XRP) by the number of entities considered (300 to 1000).

For instance, assuming 75 billion XRP in circulation, Thorp arrives at a liquidity strength of roughly $75 million per bank or liquidity provider.

She then highlights the importance of considering factors like different bank sizes, the varying amounts of XRP held by each liquidity provider, and the overall impact on liquidity strength.

A 14,185% to 71,328% Rally

Considering top-tier banks such as JP Morgan, moving over $8 trillion daily, Thorp speculates that capturing even 10% of that market would necessitate a significantly higher XRP price than $1.00. 

She emphasizes that such an evaluation demonstrates how price predictions based solely on chart analysis may not accurately reflect XRP’s true liquidity potential.

As a result, Thorp’s detailed calculations provide a more comprehensive perspective on XRP’s potential price range of $100 to $500 in the short term (within 4 to 7 months). At its current price of $0.7052, XRP would need a 14,185% surge to hit $100 and a 71,328% increase to claim $500.

Note: This article was updated on August 2, at 5:15 (UTC) to reflect the fact that Shannon Thorp works in Treasury Management for Wells Fargo. An earlier version had erroneously suggested that she was a Wells Fargo Business Support Manager due to a LinkedIn account stating this.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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