XRP Might Be A Sneaky Winner In BlackRock Coinbase Deal; Here’s Why
BlackRock Inc entered into a partnership with Coinbase Global Inc in a bid to provide digital asset exposure to its users. However, an expert suggests that this deal is a win-win situation for Ripple’s XRP token.
XRP to reach $32 by 2030?
As per WrathofKahneman, BlackRock joining forces with Coinbase will bring a huge amount of money to the crypto market. He mentioned that Robert Mitchnick is the head of Blackrock’s Digital Asset division. Mitchnick is one of the 2 authors of the XRP model from 2017.
Kahneman highlighted that BlackRock hired Ripple Executive back in 2019 to lead the division of its digital assets. In 2018, Susan Athey a Stanford professor, and Mitchnick published a paper on the value of Bitcoin and XRP tokens. However, Athey is now a Ripple Board member.
He added that the 2018 valuations paper highlighted that If XRP proves to be successful then it would value between $6.37 to $32.91.
Interestingly, one of the authors is working with Coinbase while the other is on Ripple’s board. Meanwhile, Coinbase delisted XRP over the legal tussle between Ripple and SEC.
Valuation papers lay 3 main criteria
However, Kahneman added that there are a 0couple of important things that came out of the paper. It mentioned the steady state of demand. This includes the full and best case scenarios of XRP. The paper did not include sidechains or NFTs as it wasn’t out by then.
The most interesting part of this paper is that it forecast this success range for around 12 years. So, the year has been their consideration. As per the valuation paper, XRP is expected to reach $6-$30 by 2030.
As of now, XRP token has registered a surge of more than 12% in the last 30 days. It is trading at an average price of $0.381, at the press time. However, XRP’s 24 hour trading volume has jumped by over 81% to stand at $871.5 million.
- VanEck Registers Lido Staked Ethereum Trust in Delaware, LDO Up 7%
- Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks
- Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury
- FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading
- Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
