Analyst: “XRP will not depend on the success of Bitcoin”

In addition to Grayscale’s victory, Ripple’s victory against the SEC was widely talked about, and XRP began to be relisted by various exchanges and made its investors happy. Analyst Shannon Thorp made very interesting evaluations about XRP, which has not lost its place among the top 10 cryptocurrencies despite the lawsuit that has been going on for 3 years.

Stating that he wanted to explain his $100-500 price prediction in July, the analyst said that this time he would not talk about the price and would touch on the usage areas of XRP. Giving the example of two banks using XRP, the analyst made evaluations on Twitter:

Let’s say two banks will use XRP. As the price will be appreciated as soon as the first bank starts using it, the second bank will benefit from this situation. Less XRP tokens will be required for transactions of the 2nd bank. This will bring liquidity stability. This type of growth will bring stable valuation and price rise.

Stating that Ripple, which is an XRP issuer, has been in talks with many government institutions for a long time, Thorn said:

Just look at the institutions that control the financial control of the United States and the world. Ripple has been talking to people on their boards for a long time. In my opinion, if the price is going to go up, it will go up not because Bitcoin is increasing, but because the people who have a say in this world economy prefer it. There will be no meme coin rise in XRP either.

Stating that the price increase in XRP will not come according to the expectations of the Ripple company or other external factors, the analyst stated that the needs of the world economy system will increase the price:

Bitcoin has no usage area. The price is completely governed by the demands of small investors. Therefore, the success of XRP will not depend on Bitcoin. There is no need to wait for Bitcoin to rise. It will depend on the economic needs of the world financial system. XRP will show how value is processed and defined. These are my personal opinions and thoughts I have reached as a result of my research.