According to an extensive survey that was conducted in relation to the XRP community, XRP investors are not interested in selling their digital assets or holdings in XRP anytime soon. It also shows that these users expect the digital asset’s price to surge soon. The target is set at $100 and $1000 for XRP long term forecast.
According to the report, XRP researcher, Leonidas Hadjiloizou took charge of the survey which had over 474 participants. After the exercise, the result discovered was that 94% of XRP investors are prepared to keep their XRP holdings and wait for it to surge in the long-term. Another, section think XRP will reach $100 and another think it will reach $1000.
How the Study Played Out
The survey was mostly all about storing up XRP tokens for long term gains. When the participants were asked about what their long term price targets XRP would be, about 52.3% of them believe XRP will reach $100 or more. Another 21% of the respondents believe they’re expecting the price of XRP to hit the $1,000 mark. Considering the fact that the total max supply of Ripple’s XRP has reached nearly $100 billion, this high price tag could place the total market capitalization of XRP at $100 trillion.
When you compare this to the current market capitalization of gold, which is estimated to be about $7.5 trillion you’ll see that XRP will likely be regarded as a store of value at some point. According to one Market Watch overview of the global supply of money in 2017, the total amount of fiat that was owed by every individual and country in the world reached $215 trillion.
PayPal CEO Believes the Payments Sector Will Reach $100 Trillion
It should be recalled from an earlier report from the month of February, that the CEO of payments processors PayPal, Dan Schulman in an interview with CNBC revealed that he believes that the entire digital payments sector will ultimately grow to $100 trillion. This can be compared to the XRP research.
The survey reportedly breaks down the total respondents who participated in the exercise by their demographics. The study also finds that most XRP investors who responded during the survey are living within the United State, followed by the United Kingdom, the Netherlands and then Australia.
What Other Key Data did the Survey Find?
There’s also more key information from the survey. They are as follows:
- 8% of the total respondents were men who speak English as their native tongue.
- Another 72.4% of the respondents said they heard about XRP via the social media or from a friend before investing in it.
- And another 48.1% first invested in Ripple’s XRP as far back as 2017
The price of XRP is currently trading at $0.320326 according to CoinMarketCap data. The digital asset is currently 0.85% up in the past 24 hours. XRP also had a 24-hour trade volume of $846,764,768 and total market capitalization of $13,733,220,520 as of when this content was published. The digital asset has a circulating supply of 42,872,646,068 XRP and ROI of 5,353.43%. Since XRP investors are bullish about the long term chances of the coin, then it is safe to hodl and see how it will play out.