XRP, as many predicted, is on its way back up, but how high can it go? What influences ripple price? Let's do the maths for a 10$ ripple token.
First of all, ripple CEO Brad Garlinghouse doesn't want ripple to be an "expensive" coin. So, a ripple token of 10$, isn't impossible but considering the huge total supply, is highly unlikely. Combined with Garlinghouse's statement it's almost impossible because Ripple holds a large number of tokes themselves so they can easily influence the market.
Secondly, ripple needs a market cap higher than 400 Billion to reach 10$. Which currently is half of the total market cap at its ATH a few weeks ago. Now it is possible. But again highly unlikely since the market would have to grow a significant amount for that to happen.
Third, ripple itself holds 60% of all coins. So, every bank or other partners of ripple buy tokens from that supply which is kept at a stable price, not on public exchanges. And this makes it even harder to push ripple to 10$ because if banks don't influence the market cap, it's all up to individual investors to take it to a 400b market cap. Again not impossible but highly unlikely.
Unless Ripple suddenly becomes nr. 1 used token by all banks across the whole world, we won't see a ripple anywhere near 10$. My estimate is maximum 5$-6$ by the end of 2018. Ripple isn't as decentralized as other cryptocurrencies causing some investors to stay away from the coin in the first place. I am invested in ripple because I do think it'll crawl back up to 3$ but once it does and it hasn't had any major announcements or progress made on the project, I'm gonna take profits and leave ripple.
Trade SMART.
Lopa signing out
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It may hit $3 again?
Only time can tell but I'm pretty confident that it will go back to around 2,70$, maybe not today but in the future probably. For now, just HODL ;)