Ripple cryptocurrency to hit key $1 threshold, predicts CEO
Ripple XRP, currently the third largest cryptocurrency after Bitcoin and Ethereum by market cap, will gather momentum and its price is likely to reach the key threshold of $1 by year-end.
The forecast comes from Nigel Green, founder and CEO of deVere Group, the world's largest independent financial advisory organisation.
"There's been an immensely positive buzz regarding cryptocurrencies in the last few weeks - with the standout being XRP,” said Green.
Founded in 2002, deVere Group is one of the world's largest independent advisors of specialist global financial solutions to high-net-worth clients.
It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.
"Cryptocurrencies are the future of money and, clearly, XRP is proving to be one of the most useful cryptocurrencies for businesses, organisations and individuals,” adds Green.
"The use of XRP is set to increase and naturally this will positively impact its price. I think it is likely that we'll see it hit the $1.00 price level before year-end. It could even be double this in 12 months' time as XRP adoption and usage soars."
The CEO said that he expects XRP to become a major player in the world's shift away from traditional money within the next few years.
"XRP has been cleverly positioning itself to become a leading international facilitator of global remittances and inflows. This is a huge and growing market, especially in the emerging economies of Latin America, Asia and Africa."