A member of Las Vegas MIT Blackjack made a crazy price prediction about Ripple’s cryptocurrency XRP. In an interview with Forbes, Steve Wynn said that the digital asset is designed to be worth $ 10,000 per coin.
XRP is Worth $ 10K
Steve Wynn is a popular player in the Las Vegas gambling industry. Wynn recently had an interview with Forbes reporter John Navin where they talked about XRP and other cryptocurrencies in general.
According to Steve, XRP is different from other cryptocurrencies due to its unique design as an instant money transfer tool. Currently, it takes days for users to send money globally and at high costs using traditional systems such as SWIFT. XRP is designed to make these transfers less costly and almost instant.
It is of the opinion that the price of XRP is currently set on the demand side of the market, as the money transfer application has not yet gained traction. When this happens, the digital asset will greatly benefit in terms of price gains.
As for the XRP price target, Wynn states that the XRP is “designed to be worth $ 10,000 per coin”. This is a crazy estimate, considering that XRP’s all-time high is $ 3.40. In addition, even Bitcoin, the flagship of crypto currencies, has not gained over $ 10 thousand in recent months.
What Will Drive XRP Price?
Wynn’s theory is based on the assumption that “every retail transaction and international money transfer” uses XRP. He also explains his prediction as follows:
“This is a very optimistic and distant guess. I’ll take some profit at certain times as XRP rises, but I don’t have a target price to sell them all. ”
The blackjack expert has invested in XRP over the long term and plans to keep their cryptocurrencies for at least five years. He also said he is holding a few other cryptocurrencies and looking for new values.
The past few years have been pretty tough for XRP owners. While other cryptocurrencies have experienced significant spikes, XRP is still about 94% away from ATH, despite signing a series of partnerships with financial institutions and banks using the Ripple payment network. The company also significantly reduced its quarterly XRP sales in response to investors’ concerns.