September 28, 2018
By: Steven Anderson
We’ve heard a lot out of the deVere Group in recent months, and with good reason; these guys are pushing the envelope when it comes to using cryptocurrency as a mobile payments and investment tool. Now, they’ve tipped us off as to their latest word, which features CEO Nigel Green projecting a return to dollar parity for Ripple.
Ripple is one of the three biggest cryptocurrencies around, just behind bitcoin itself and Ethereum. It’s currently holding at $0.51, thus, Green’s projection that Ripple would return to the $1 per coin price is something of a surprise. The last time it was there was back in February, just after the catastrophic drops of January.
So what’s behind the incoming big jump? Green notes that there has been “immensely positive buzz” behind cryptocurrencies, so that’s definitely a good sign. Green also figures this will ultimately drive the entire market, giving not just Ripple but also most every other major crypto a boost.
Green noted: “Cryptocurrencies are the future of money and, clearly, XRP is proving to be one of the most useful cryptocurrencies for businesses, organizations and individuals. 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. XRP can be expected to become a major player in the world’s shift away from fiat money over the next few years.”
It’s not the first time we’ve heard about predictions like these—certain segments of the field have been projecting a boost in cryptocurrency for months now—but given what all is going on in the field, it might well be that some cash will move into cryptocurrency. There’s certainly been a move to get away from the US dollar, as countries like Russia call for a return to native currency. A certain amount of diversity in investing would likewise make cryptocurrency attractive, and crypto as a mobile payments tool would only boost its fortunes.
Only the end of the year will tell how right Green is, but it’s certainly not out of line to project such gains.