YouTuber ‘Genius Trader’ has recently uploaded a video in which he claims Ripple could fly past $11.00 by the 25th of May, due to a potentially huge announcement.
Before I start, you can see the video for yourself, here- (Skip to 1:47) https://www.youtube.com/watch?v=nFoeSqh8ORU
So, what’s going on and how real is this?
Well of course, it’s a Ripple video so the focus here is on Ripple potentially making a huge partnership. Rightly so, Genius Trader admits that in order for his predictions to ring true, Ripple needs to see a huge gain in market cap, a gain that is quite unlikely given the present gaps in the market. Regardless of this, the show must go on.
To cut to the chase, Genius Trader believes that Amazon will start accepting Ripple.
Remember what happened to Verge when that rumour spread regarding XVG? Just imagine how huge an Amazon partnership would be for Ripple. Genius Trader now makes an interesting point that sort of reinforces his theory.
Basically, in order to grow to $11.00, Ripple needs to really bolster its market capitalisation right? Well Amazon have a NET worth that could possibly contribute to that, after reports this week came out stating that overall, Amazons NET worth reached $105.1Billion, according to Genius Traders video.
Moreover, Ripple can offer something incredible in return to Amazon, lost cost, high speed transactions that would allow Amazon to improve the efficiency at which it facilitates cross border payments.
Right okay, so all of the above is sort of fair enough, it’s heavily speculative but I guess he has a point, the question I am asking now however- where does the 25th of May fit into this, is this just a complete stab in the dark?
How realistic is this?
It’s probably not going to happen soon and really, I doubt we will see Amazon accepting XRP as a payment option before the 25th of May. I just think Amazon are way to big for this. If Amazon wanted to dip into cryptocurrency, I’m pretty sure they would have done it by now. They have the facilities and the finances to enter the blockchain themselves and obviously, an Amazon native currency would be most beneficial to them.
Of course it would be in Ripple’s interests to get Amazon on board because as Genius Trader points out, this offers Ripple the chance to expand its market cap to the point it could exceed $10.00.
There’s a lot of speculation surrounding Ripple and XRP, people are very excited about it, it almost feels as if the news will never subside. For now, I wouldn’t get too excited about the 25th of May. But we do have other potential news on the horizon, Ripple and Coinbase, and Ripple and Apple to name but a few.