XRP Price Analysis for July 17th – XRP May Cost 10000 USD

By Dmitriy Gurkovskiy, author at RoboForex Blog

An unexpected forecast on the XRP was made by a legendary blackjack expert and billionaire Stephen Wynn. He states that the XRP may reach 10000 USD per coin if in the future, it will be widely used in retail sales and transborder transactions.

In an interview to John Navin from Forbes, Wynn pointed at the priority of the Ripple before other famous cryptocurrencies: it is meant for instant transactions with a very low commission fee and may be used in retail sales. According to him, this is the “inner value” of the XRP.

As for the price of the XRP, Wynn states that it, of course, will depend on the demand, and if it will be used in each retail sales operation and transborder transaction, its price may reach 10000 USD.

This is a very long-term scenario for the crypto asset. Wynn himself bought the XRP as a long-term investment for at least 5 years. As for his investment strategy on the whole, the businessman says that he converted most of his assets in cash and is waiting for the economic situation all over the world to stabilize. Only then he plans to return to investments in traditional markets.

At the same time, an Internet store Uquid Shop that uses the XRP, announced in its blog that the speed and scalability of the XRP had made shopping more comfortable for its clients. Global payments are quite pricy, untrustworthy, and slow, and the main systems are fragmented and complicated. RippleNet suggests an up-tp-date blockchain technology for mass transactions that now already helps financial entities to find over 300 supplers in more than 40 countries.

Another advantage of the use of the XRP in retail sales is the speed of a transaction that amounts to, according to Uquid, 3.77 seconds with a zero commission fee for network transactions. The register of the XRP is capable of processing 1500 transactions per second and may scale to reach the same throughput as VISA.

On D1, XRP/USD keeps declining. The pair has bounced off 38.2% Fibo. The nearest aim of the decline is 23.6% Fibo; if the price breaks it away, it may easily go further down and reach 0.0% Fibo. The MACD histogram is almost at zero which indicates a decline in the liquidity and volatility of the instrument. The aim of the decline is still at 0.1455 USD.

On H4, the pair keeps declining inside a descending channel and is correcting slightly. The Stochastic has formed a Black Cross, which means the continuation of the descending impulse. The aim of the decline remains at 0.1734 USD. Regardless of the news, in the long run, tech analysis promises a further decline.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.