Former Goldman Sachs employee and ex-Forbes Editor has forecasted 1500% price upsurge for cryptocurrency XRP as the newbie ventures into the digital currency industry.
Will Meade, who has been following up with issues in the cryptocurrency space, foresees the return of the 2017/2018 Bitcoin price bull that saw the entire cryptocurrency world in a surprising additional upside momentum.
The founder of a $1.4 billion hedge fund said he purposely purchased some XRP this week owing to his expectation of “a rising tide” that lifts all boats.
If Bitcoin is able to see the 2017/2018 bubble there is a high chance XRP and some other cryptocurrency follow suit, and this may make XRP see 1500% price growth during the period, the former Project Manager at Goldman Sachs anticipates.
Will’s prediction is arguably done on the basis of fact, considering the history of cryptocurrency. Recall that in 2017, XRP touched $3, recording close to 4000% price increase during the bubble. The price surge saw Bitcoin touched $20,000. Since then, Bitcoin and other crypto-assets like XRP have not reach their all-time high.
However, considering the market situation at the moment, especially the usual post halving price growth, there is a chance of Bitcoin and some other crypto assets like XRP growing higher in terms of the market price.
MoneyGram and Others Using XRP for Remittance
Ripple Labs Inc. makes use of XRP token to perfect transactions through its On-Demand Liquidity (ODL) Service. Every Ripple customer making use of ODL has no other choice than to make use of XRP token.
At the moment, lots of financial institutions are making use of ODL for seamless remittance service. Recently, MoneyGram, one of the RippleNet customers announced it also uses ODL for cross border remittance. The remittance company said it uses ODL to service its customers across the globe.
Although, MoneyGram does not hold crypto-asset due to regulatory guidelines on cryptocurrency, however, it assented to making use of the digital asset through an intermediary offered by Ripple. These intermediaries are exchanges that make fund conversions for companies making use of ODL.
Till this moment, cryptocurrency regulations are still not clear to users of crypto. Policymakers, save for Japan and some other countries, have not been welcoming cryptocurrency with an open mind.
In India for example, the Supreme Court had lifted ban on crypto, however, policymakers have not regulated digital assets or create opportunities through cryptos despite the court ruling declaring crypto legal.
Meanwhile, Ripple had charged the Indian policymakers to welcome crypto and make regulatory guidelines that allow for the creation of innovations through digital currency. The enterprise solution company offered India a crypto regulatory frame work that eases the adoption of cryptocurrency in the country.