XRP is one of the most widely debated cryptocurrencies on the planet, and it’s very much like Marmite – you either love it or hate it. For those that love it, they devote their entire life to the XRP cause, taking part in heated debates over the legality of the token. XRParcade – a popular hub for XRP related information – recently conducted a survey that highlighted how out there hardcore XRP holders really are. In the survey, 21.3% of participants said they expect XRP to surpass the $1,000 mark – a truly nuts prediction.
People Looking to Cash Out At $10-$20
Out of the 474 respondents, 20% said that they would sell their first XRP around the $10-$20 mark, a rather reasonable level for XRP to see within our lifetimes. Additionally, 36.3% of survey respondents said that they would never sell their XRP, making many question what they plan on using it for. As it stands, XRP is mainly used by the xRapid platform to facilitate cross-border transfers between banks and financial institutions. So, unless these participants are banks or other financial institutions, then you have to wonder what they’re planning on using their XRP for – other than a long-term investment.
A Few Smart Holders in the Bunch
The survey went on to ask the participants what they think must happen for XRP to become successful. Interestingly, 386 people believe that regulatory clarity for crypto will be XRP’s biggest driving factor, with banks using XRP coming in a close second with 349 votes. Banks are already using XRP, with SABB and Euro Exim Bank deploying xRapid technology. Then, last week we saw MoneyGram announced it had deployed XRP in its systems. This could mean that 349 people simply don’t read the news, as banks are already using XRP. On the other hand, 16 people responded saying Bitcoin must die in order for XRP to survive.
Sadly, for the 21.3% of the survey that think XRP will hit $1,000 eventually, they are smoking something incredibly strong. Given the fact that XRP’s total supply is 100 million, a price tag of $1,000 would give it a market cap of $100 billion. To put that into perspective, the total amount of fiat currency owned by every single person and country in the world sits at just over $215 trillion. $1,000 can be a dream for these XRP holders, but it’s not something that can realistically happen any time soon.