Is It Misguided to Say Ripple Will Skyrocket Once The Banks Start Buying XRP Directly?
I'm hearing from people on this Reddit that Ripple is already giving XRP to banks privately. Does this mean that's not being currently factored into the price as it stands? Is there a way to know how much XRP is being given to these banks?
I ask because it seems to me that everyone who is a Ripple skeptic says "it'll never hit $5. It'll never hit $10." ETC ETC. These people never seem to take into account that Ripple is putting massive amounts of XRP (I've heard everything from 50% to 70%) into escrow. This will drive up the price because supply will be much lower.
But then aren't we also waiting for the time when these 100+ financial institutions begin actually USING XRP for daily transactions. They'd have to acquire XRP to do that and then we'd have 100+ banks buying XRP in a short period of time. With the Ripple escrow already in affect, then the mad dash by Bank whales to get into XRP...wouldn't that create massive scarcity which could see the price skyrocket perhaps even higher than $100? It seems far-fetched now but that's because Ripple is still being traded by small-hand investors...not whales.
I just have a hard time believing that these banks won't want to profit immensely off of XRP while they use it at the same time. These banks are going to want billions in profits potentially. There's no way that long-term Ripple will remain below $1 or even below $10 taking this all into account. The problem is we don't know when the dam will break. Could be a year from now, could be 2 years from now.