By Now the XRP Community Is Used to Wild Price Predictions. $589 per Coin, Anyone?

By now the XRP community is used to wild price predictions. $589 per coin, anyone? That meme has existed for a while

A new report by Bitwise, one of the applicants for an XRP exchange-traded fund (ETF), has recently published a 33-page report on XRP, called “The Investment Case for XRP”.

The report, written by the Bitwise investment team, focuses on the potential for XRP to be a valuable addition to any cryptocurrency portfolio. The report also touches upon the recent legal troubles that Ripple has faced, which could ultimately impact the price of XRP.

The report begins by discussing the history of XRP and how it was created by Jed McCaleb and Marc Garcetti in 2011. XRP is the native token of the Ripple network, which is a blockchain that was designed to facilitate cross-border payments.

The report also highlights how XRP is being used by several institutions, including banks and payment processors, to quickly and efficiently send money around the world. For example, the report mentions how MoneyGram began integrating XRP into its money transfer service in 2017, and how the partnership quickly began yielding stellar results.

After just six months of the partnership, MoneyGram was already seeing "strong demand" for XRP-powered money transfers, with users in the U.S. and Mexico sending an average of $500 in a single transaction.

This partnership not only showcased the practical use cases of XRP but also demonstrated the potential for large-scale adoption of cryptocurrency technology.

The report continues by discussing the different price scenarios that could play out for XRP by 2030, based on varying levels of institutional adoption and usage in key sectors like payments and tokenization.

In the bear case scenario, which assumes a lag in institutional adoption and limited integration in crucial sectors, the report predicts that the price of XRP could drop to just $0.13 by 2030.

However, in the bull case scenario, which assumes a greater level of adoption and usage, the report predicts that the price of XRP could rise to $12.68 by 2030.

Finally, the max case scenario envisions an even brighter future for XRP, reaching a price of $29.32 by 2030.

This scenario depends on XRP securing "a modest but meaningful slice of the multitrillion payments and tokenization use cases", leading to substantial usage and fee revenue.

The report concludes by saying that the approval of these ETFs is becoming an increasing possibility, especially given XRP’s recent legal clarity.

As one of the institutions wanting to offer their clients an XRP ETF, it’s also worth keeping this relationship in mind.

The report's authors, Chief Investment Officer Matt Hougan and the Bitwise investment team, are well-known and respected figures in the cryptocurrency industry.

The report itself is comprehensive and well-researched, and it provides a valuable overview of the investment case for XRP.

The report is a must-read for any investor who is interested in learning more about XRP and its potential.