Home Tech Ripple Price Will Go $10.00 Soon

Ripple Price Will Go $10.00 Soon

4460
SHARE

In the last 24 hours, Ripple prices gained four percent while the cryptocurrency market cap added $15.2 billion, demonstrating that investors are feeling particularly generous this Easter Monday.

However, the broad trends are still active.

One day’s reprieve does not change the fact that cryptocurrencies are backsliding. Investors are simply terrified of potential regulation, and that fear becomes self-fulfilling—it eventually leads to an avalanche of sell orders.

What I find interesting is that companies react the exact opposite way to potential regulation.

Sure, business owners and Wall Street-types will spout abuse at government ineptitude, but in reality, they view government involvement as a sign of credibility. The anarchy of unregulated markets is too unpredictable for them.

As a result, corporations are eagerly plowing forward with new use-cases now that regulation is in the cards.

This may seem counterintuitive to retail investors, but it really shouldn’t. Remember how hopes of mass adoption sent cryptocurrency prices through the roof? Well, this is what blockchain’s welcoming party looks like: lots of “INCs” and “CORPs”; not a lot of individuals.

Just take a look at these recent announcements:

1 One of Canada’s largest bank considers blockchain for “asset tracking.” In a patent filing, Toronto-Dominion Bank (NYSE:TD, TSE:TD) proposes using a public ledger to reduce fraud in the banking system. It’s odd they didn’t brainstorm this idea last year. Or the year before that, come to think of it. Uncanny that it happened now, just when regulators got on board. (Source: “REAL TME VIRTUAL DRAFT SYSTEM AND METHOD,” US Patent & Trademark Office, March 29, 2018.)

2 IBM meets with central banks about token issuance. In accordance with its work on Stellar’s platform, and with the XLM token, IBM (NYSE:IBM) held closed-door meetings with 20 central banks around the world. They say one of the central banks could dip a “big toe” into the digital currency space this year. Plus, IBM is working on all sorts of “permissioned public blockchains.” (Source: “IBM Is Finally Getting Serious About Cryptocurrency,” CoinDesk, March 31, 2018.)

3 A Malaysian airline is launching crypto-based rewards program. Not only is budget airline AirAsia moving its loyalty program onto a blockchain, it’s also issuing a token that investors can use to redeem their rewards. (Source: “AirAsia is creating its own cryptocurrency as part of its digital shift,” Nikkei Asian Review, March 29, 2018.)

It’s abundantly clear that corporations are embracing cryptocurrencies. I’m simply drawing a connection between that trend, the global push for stricter regulations, and falling cryptocurrency prices. All three are related.

Analyst Take

Try not to see government officials as meddlesome interlocutors bent on destroying XRP prices. More often than not, they are simply technocrats looking to minimize risk and maximize growth. That’s a tough job. So don’t worry too much about our $10.00 Ripple price prediction—we may have to extend the time horizon, but the fundamentals are just as strong as ever.

If this analysis seems overly broad, in the sense that it applies to more than just XRP, it’s because cryptocurrency prices are moving in sync. Until XRP decouples from the rest, we have to describe the macro factors at play.

Source:www.profitconfidential.com