72% Of Investors Think XRP Will Reach $100
A new Twitter survey conducted by XRP_Cro among at least 1,000 members of the XRP community indicates that most of the investors think that the XRP price will surpass $100. Ripple has an active community in the cryptocurrency sphere and ranks among the most heavily promoted platforms in social media.
Many believe that XRP will rise despite the below-average performance in the last two years. A major majority of 72.4% of survey participants think that the XRP price will surpass $100 in the future. But, there is a catch; some things need to happen for it to surge to such levels.
If the XRP market capitalization surpasses $1 trillion, the dollar might be significantly devalued. Thus, the $100 XRP price levels may not be worth quite as much as they would be worth currently.
Ripple’s XRP is quite a controversial cryptocurrency. It is considered as a wild card in the crypto space. That factor adds many variables to the equation, which makes it quite challenging to predict its price in the future. It might eventually turn out to be the best cryptocurrency that there is or die a horrible death like a mad dog.
Interestingly, there is a result that 68% of XRP owners invested to get rich and only under 15% each acquired it as a means of payment or since they love new technologies. It is also incredible that XRP holders have ‘strong hands’. Therefore, 94.3% of those who participated in the survey said that they are long-term investors and just 5.7% are traders.
Additionally, just 43% of them are willing to partially or entirely exit the market in the case that XRP would reach a price of $100 between 2021 and 2025. 39.1% would exit this market in the case that XRP would surge to between $10 and $50. It means that 82% are not ready to exit the market before it rises above $10.
That percentage is considerably high when you factor in that XRP is now over 92% below its all-time high of $3.31 and that around 44.1% of the holders are still sitting on losses. In this regard, it is also interesting that another 42.9% are “all-in” in XRP and are not invested in any other crypto. On the contrary, 44.3% of the respondents said that XRP accounts for between 30% and 50% of their cryptocurrency portfolio.
77.3% own at least 10,000 XRP in terms of the amount of investment. 50.7% have between 10,000 and 50,000 XRP while 26.6% have over 100,000 XRP. Moreover, the second most popular crypto among XRP investors is VeChain (VET). At least 60% hold VET then 27% hold Cardano while 14% prefer investing in Stellar Lumens. Just 4.1% of these investors own Ethereum (ETH).
XRP growing supply
It is important to know its supply to determine how high XRP can go. Today, more than 44.1 billion coins are in supply, while over 48 billion are locked in escrow. The balance in escrow is scheduled for release gradually into circulation over the next 18 years.
Approximately one billion is released every month but not released to the public market to ensure that it does not exert downward pressure on the XRP price. Instead, Ripple plans to sell the XRP via over-the-counter (OTC) trading or even find some other method that does not affect the market.
Another report of this survey indicates that the majority of XRP owners, about 62.4%, consider Ripple CTO David Schwarz as their preferred employee. On the other hand, 33.2% go for Ripple CEO Brad Garlinghouse as their preferred employee.
⚠️XRP Community Demographics Poll 2020 ⚠️
The largest and most comprehensive poll ever conducted in the XRP community
🔹1000+ community members participated in this poll
🔹5 main categories
➡️Share!#xrp #xrpcommunity #fintech @Ripple pic.twitter.com/wGSkVMZLep
— XRP_Cro (@stedas) October 11, 2020
According to previous reports from several days ago, the famous chart analyst “Credible Crypto” also was extremely bullish on the price of XRP. The analyst forecasted a surge in the XRP price in the next bull run to up to $20 to $30. “Credible Crypto” said that XRP has great potential and already a much greater acceptance than other cryptos.
Nonetheless, the analyst expects the next bull run will be as speculative as the previous two. But, one of the key beneficiaries could be XRP.