XRP Price is Soaring as new Fake Coinbase Listing Rumors Appear
Written by Gabrijel Šerjak on March 5, 2018
The XRP price is surging once again. Thanks to solid gains over the past few hours, the XRP price surpassed $1. Most of this excitement is fueled by speculation and hype.
Ripple price is gaining momentum quite nicely as of right now. Its 16,66% gain over the past 24 hours is quite bullish according to Coinmarketcap. As is usually the case in this industry, the current price jump is primarily fueled by hype, speculation, and expectations.
This time around there is a rumour that Ripple’s asset will be added to the Coinbase exchange. It is not the first time such rumours surface. Last time around, the information was completely bogus, eventually triggering a massive market sell-off in the process. There is a big chance that history will repeat itself.
There is no indication, that Coinbase will list XRP anytime soon. The company has made no official announcements as of right now. That doesn’t mean the digital asset will never find its way to this exchange in the future. For now, however, the company doesn’t show interest in dealing with XRP.
Why I think Ripple is not worth more than a US dollar
A stab at a valuation for Ripple.:
There is $180 trillion worth of cross-border payments made every year, with a combined cost of more than $1.7 trillion a year. If XRP can capture 30% of the market (1.7 trillion * 0.3), assuming it can reduce cost by 30% (1.7T *0.3 *0.3) then assuming XRP can provide such value until another better coin comes along, say in 5 years time. (1.7T* 0.3*0.3*5) which give it an assumed market cap of 0.765Trillion of cost savings. 0.765Trillion/100billion coins = $7.65USD per coin. This is a very optimistic assumption already; almost border on the insane.
Realistically I think it should be 1.7T*0.10*0.3*2 = 0.102Trillion/100billion coins =$1.02 per coin.