I said I would write about XRP (Ripple). My article might be a little late, please excuse me for that.
Ripple (XRP) was founded in 2012 by Chris Larsen and Jed McCaleb. Ripple was founded to develop global payment solutions, and XRP became the digital currency used in these solutions. Ripple's main purpose is to enable fast, low-cost cross-border payments between banks and financial institutions. Ripple was built with a deep-rooted entrepreneurial spirit, founded by Jed McCaleb with his first venture, Metamachine Inc.
He seems to have managed to get into trouble with the courts in many of his ventures and he is a name that has paid the price. It seems that he first started getting into trouble in 2006 when the software they developed was stopped and he was fined $30 million. He left his active role in Ripple in 2013 and founded the Stellar network and established many partnerships on this network such as IBM. His name is often mentioned among the names that pioneered the blockchain revolution. I am aware of this even though I do not have an investment in Ripple.
In addition to these, he founded an aviation company that produces technology on aviation, and this is not an aircraft company like the aviation companies we know, but a company that aims to develop space stations. There is a large pool of information about the founder that you can access almost to the breath he takes, if you want to research. After a while, I gave up on reviewing and verifying each piece of information; he is an entrepreneur with such accessible information.
Yes, a legal process has begun between the SEC and Ripple in 2020 due to the illegal sale of XRP as a security and it was ordered to pay a fine of $125 million. It has been decided that XRP sales made through cryptocurrency exchanges are legal.
Up to this point, I think there are things that a researcher who aims to know about the history of Ripple and its founder should know. Feel free to research more, for any project.
Now let's come to commenting on the future and determining a target price, what the potential target price should be in a bullish situation and what kind of strategy we should determine in the face of this situation.
First of all, when we look at the market value, which should be called huge, the total supply is 99.99 billion, and the maximum supply is limited to 100 billion. What about the supply in circulation? 56.39 billion, and this is an indicator that shows the inflation threat at a dangerous limit of 43.61%. It would be right to perceive it as a threat.
There is an article on my profile where I explain how effective and dangerous the connection between these demands of a project is by giving an example with Shiba. You can find it among the articles I have tagged Shiba. I recommend you to do this and reinforce your knowledge with an example of what kind of problems the differences between demands can cause.
I started with a supply balance that we can describe as a negative picture, yes, but this threat cannot be ignored. Yes, you will read the part I wrote about how the huge market value will have an effect in a moment. Before that, there is another article on my profile where I explain how you should measure the amount of investment needed for the market value to multiply your investment amount in the project we invest in. I especially recommend reading these to novice investors. If you are an investor who does not have any knowledge, these articles will be useful to you.
Let's assume that a mega bull is happening based on this huge market cap. In a situation where the crypto market reaches a total market cap of $4-5 or $6 trillion, XRP's market cap would reach $84.15 billion. So what does this mean? If it maintains its market dominance, you would have made a 49.23% profit.
Let's even take a more optimistic approach. Let XRP increase its current market dominance. Remember, it is among the top 7 projects, and when there is a market dominance battle between its competitors, it will be a very tough fight, especially for the top 15 projects. Even the best will not be able to double its current market dominance, but let's assume that XRP will double its market dominance. In this case, the market cap will reach $ 252.45 billion. With the total value of the crypto market reaching $ 6 trillion, how much profit will we get with XRP in this mega bull case? Let me tell you: 347.68%, or about 3.5 times the gain. This profit can be achieved if it doubles its market dominance in the battle between the top 15 projects, which is quite optimistic.
Please do not take the burn into account, I am saying this especially for small investors. No burn rate will "take the project to the moon" as the crypto industry says. Especially in a project with such an inflation difference, no burn can be expected to help. Now let's come to my personal thoughts. Yes, my current target price for XRP is between $1 and $1.5. I can describe it as a project that I do not find suitable for investment. As I said, these are my personal thoughts.
My target price and project comments can help you develop your research spirit. Don't be late to create your own ideas. Start by making your own comments about the projects. If there are people around you who are interested in this sector, it will be beneficial for you to have investment strategies and theories as a frequent topic of conversation.
Thank you for reading. We hope you will follow us and meet with the community members in the comments, goodbye.