Singapore Research Group Predicts XRP Value to Grow 289%

Picolo Research believes Ripple (XRP) could trade with a $1.75 value, a nearly 300% increase from where it currently stands.

Picolo is an independent research group under the Piccolo Plus management firm from Singapore. Their report begins by reviewing Ripple’s (XRP) Q3 market data. This shows a sales increase from $17 million to nearly $98 million, a 481% growth for the quarter.

Additionally, Picolo points out that amid these higher sales, trade volume has actually declined significantly. The growth reflects greater institutional demand for rapid cross-border payments.

Picolo sees the potential for Ripple’s (XRP) growth, but it will have to compete with PayPal and Swift

Both these giant payment companies associate with thousands of major institutions. However, Ripple is partners with only around 100. Still, Ripple forged several solid relationships.

MoneyGram is still testing xRapid for use in the near future, and PNC signed up in September.

And there’s no question that Ripple (XRP) is faster than its competitors

This includes not only digital payment platforms like Swift and PayPal, but also other blockchain protocols like Stellar Lumens (XLM) and Ethereum.  Ripple facilitates international payments in seconds, while Swift can take several hours, and PayPal several days.

Picolo is very optimistic about Ripple’s (XRP) future, but they do point out a few other hurdles

One problem is that the jury’s still out whether or not it’s a security.  However, the SEC has yet to address this matter.  According to the Picolo report, Ripple made an effort to open communication and collaborate with the government.  Therefore, they’ve gathered a lobbying group in Washington in hopes of working with the SEC and IRS to foster a safe and healthy regulationship.

Additionally, Picolo notes that some investors show “concerns of XRP being centralized, as Ripple owns 60% of total tokens.”  To this, they do not offer a solution.  The debate on level of centralization or decentralization of Ripple is ongoing. But the company itself has more or less said that, yes, Ripple (XRP) is partially centralized as a controlled supply.  This information is no secret.

Undoubtedly, Ripple (XRP) has made impressive strides since its inception.  In the next year, they’ll need to continue creating strong partnerships.  And a clearer verdict from the SEC will also help determine Ripple’s fate.


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The post Singapore Research Group Predicts XRP Value to Grow 289% by Eric Van Orman appeared first on BittPress.