Blackjack pro Steve Wynn predicts that the XRP design and increased adoption will push the coin’s price to $10,000, though some analysts make bearish comments.
Steve Wynn, a real estate businessman and a successful gambler, has revealed that the XRP design supports a $10,000 value. The legendary Blackjack pro let out his thoughts on XRP during a recent interview with Forbes contributor John Navin. Comparing XRP with other cryptocurrencies, Steve said XRP is poised to take over all retail transactions and SWIFT international money transfers. He explained that unlike other platforms that take days to complete a transaction, XRP is instant and cost-effective. In addition to his response on ways XRP differs from other cryptocurrencies, he said:
“In short, it has a functional use. Right now, price is increasing on demand alone and its application has not been adopted to any great degree. When this happens there will be significant gains.”
Blackjack Pro Sees XRP at $10,000
Speaking on XRP, Steve said the market’s fourth-largest asset is “designed to have a value of 10,000 per coin.” According to him, XRP can meet the $10,000 target if it is used for every retail transaction, as well as international transfers. However, the Blackjack pro added that this scenario might be a little too optimistic, and is a “long way off”.
With the number of financial companies that use the On-Demand Liquidity (ODL) service by Ripple, Steve’s prediction could possibly come to reality. Ripple’s network of financial institutions, RippleNet, currently boasts of a few hundred organizations that use XRP in several ways. If Ripple continues to drive the use of ODL, among other services, XRP adoption could increase and eventually pump the coin’s price.
Also, the business tycoon said in the interview that he has purchased some XRP, and plans to hold on to it for a minimum of five years. He also talked about the other cryptocurrencies he holds and his reasons for choosing them. According to him, “each coin has a functional use and that’s what I evaluate.”
Concerning his non-crypto investments, Steve declared that he is presently looking for opportunities to invest.
While not very popular in the crypto sphere, Steve Wynn is a household name in the gambling industry. Back in the 90s, Steve was on a team of MIT Blackjack players, popular for their techniques. The team used these distinct gambling techniques to make profits in casinos. He also played a significant role in the construction and operation of several renowned hotels in Las Vegas and Atlantic City.
Despite Steve’s bullish prediction on XRP, an analyst said in a tweet that the coin has reached a “now or never” point that will determine its fate. Another analyst specified a more grim outlook for XRP in the near future.
$XRP General thoughts:
I don’t think this pumps without fundamentals and for now I don’t see anything in the calendar.
Personally I’m waiting for orange or a HTF reclaim of the former floor that lead to this bleedout. Bounces are for shorting until proven otherwise. pic.twitter.com/YoIBlvhFu6
— Bagsy (@imBagsy) July 12, 2020
At the moment, XRP is trading at $0.197944, which is a 0.09% over its previous close. The coin’s current market cap is $8,760,545,509.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
