XRP Price Poised To Hit $20,000: Chad Steingraber Theory Outlines How
2024年1月1日 - 6:00PM
NEWSBTC
Chad Steingraber, a professional game designer and a prominent
figure in the XRP community, recently updated his theory,
originally posted in August 2022, about the potential future price
of XRP. Dubbed “The Chad Steingraber Theory,” it presents an
intricate roadmap predicting XRP’s journey towards a staggering
$20,000 mark. Central to Steingraber’s argument is the principle of
asset scarcity in relation to supply and demand. He explains how
scarcity, much like in an auction where numerous bidders vie for a
limited asset, can escalate the asset’s value. “Asset Scarcity,
part of supply and demand, is also an issue, like an auction bid
where many people are bidding on a limited set of assets that only
some of them may own. This can drive up value, it ONLY stops when
no one else is willing to pay a higher price,” he notes,
underlining how this scarcity could be a driving force for XRP’s
valuation. Related Reading: XRP Price Surge: Crypto Analyst
Predicts Various Bullish Scenarios In The Coming Days Steingraber
also delves into the realm of market appreciation and ‘phantom
money’. He elucidates how the current price of an asset can reflect
its anticipated future value, a concept akin to selling the idea of
a future desirable house on a valuable plot of land at today’s
perceived value. He further introduces the notion of ‘Phantom
Money’, indicating that market caps often mirror perceived, rather
than actual, invested value. “Today XRP market cap is $30 billion..
but wait, that doesn’t mean there is actually $30B of money that
has been put into XRP. […] There’s far less as the market cap is
just a reflection of the current value anyone is willing to pay.
Phantom Money, remember?, Steingraber explained. Drawing parallels
with unique and limited assets like the Mona Lisa, Steingraber
highlights the perception of value. He points out that value is
often ascribed based on uniqueness and societal significance,
stating, “The Mona Lisa is valuable because it’s the only one… That
value is in our minds.” This analogy serves to emphasize the
perceived value of the coin in the cryptocurrency market. “The Chad
Steingraber Theory” – The Road to a $20K #XRPA Thread🧵 from The
Future (UPDATED) It’s been a year and a half since I wrote this
original thread and A LOT has happened, including some parts of
this theory. Grab a drink, grab a snack and let’s take a ride,
shall we? https://t.co/TU7CLwwh1T — Chad Steingraber
(@ChadSteingraber) December 30, 2023 Banks Will Drive The XRP Price
To $20,000 Central to Steingraber’s theory is the idea of banks
holding XRP as a reserve asset, akin to gold. He explicitly states,
“Banks holding XRP, that’s the Holy Grail,” emphasizing the
potential shift in how financial institutions perceive XRP. This
change would elevate the cryptocurrency’s status, positioning it
not just as a transactional cryptocurrency but as a foundational
asset in banking operations. Related Reading: XRP Whales Moves $47
Million To Exchange, As Price Dips Steingraber envisions a future
where banks will create private ledgers for internal operations,
necessitating substantial XRP reserves. “Banks will create a
Private Ledger and HOLD XRP as a reserve asset like how a central
bank will hold Gold as a backing asset,” he explains. This approach
to using XRP mirrors the traditional banking system’s reliance on
gold, suggesting a paradigm shift in digital asset management. The
theory also highlights the crucial role of liquidity hubs, like
Metaco, in this new banking ecosystem. Steingraber points out that
these hubs would need to maintain large XRP balances to facilitate
transactions between banks. “The LHs also hold a balance of XRP
because they ARE the 3rd Party exchange that requires a transfer on
the XRPL of the issued IOU Derivative into another IOU Derivative,”
he notes, underlining the importance of XRP in this process. A
pivotal aspect of Steingraber’s theory is the ensuing scarcity of
XRP in the public market as banks accumulate it. He predicts a
significant shift in the public supply, stating, “The circulating
public supply of XRP on crypto exchanges is far less than people
realize… The banks, when ready, are coming for the public XRP
supply and once they have it… IT’S GONE.” This anticipated scarcity
is expected to trigger a FOMO among financial institutions, leading
to a rapid depletion of XRP’s public availability. Steingraber’s
theory culminates in the projection of a massive increase in XRP’s
price, driven by the combined effects of banks treating it as a
reserve asset, the creation of private ledgers, the crucial role of
liquidity hubs, and the resulting public supply scarcity. He posits
a future where the value of the cryptocurrency could skyrocket due
to these factors, potentially reaching up to $20,000. At press
time, XRP traded at $0.61406. Featured image created with DALL·E 3,
chart from TradingView.com
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