Think Ripple (XRP) Is Expensive? This Statistic Might Change Your Mind.
Over the past 12 months, Ripple (CRYPTO: XRP) has seen its valuation soar by more than 300%. With Ripple's market cap now at roughly $200 billion, many crypto investors believe the project to be overvalued. But according to one statistic, Ripple remains extremely undervalued compared to its long-term potential.In a recent report, Bitwise Investments outlined the ultimate potential for Ripple, which seeks to supplant the current global system for cross-border transactions with its own protocol, which it argues is faster, cheaper, and more transparent. How big exactly is the cross-border transactions market? Significantly bigger than Ripple's current valuation."The Total Addressable Market (TAM) of global cross-border payments is substantial," Bitwise's report stresses, noting that this market surpassed $150 trillion in 2022. By 2027, it believes, total cross-border payments could exceed $250 trillion in annual value. "Capturing a small percentage of the global cross-border payments market could have a very significant impact on overall network activity and the economics for XRP," Bitwise concludes. Continue reading
Over the past 12 months, Ripple (CRYPTO: XRP) has seen its valuation soar by more than 300%. With Ripple's market cap now at roughly $200 billion, many crypto investors believe the project to be overvalued. But according to one statistic, Ripple remains extremely undervalued compared to its long-term potential.
In a recent report, Bitwise Investments outlined the ultimate potential for Ripple, which seeks to supplant the current global system for cross-border transactions with its own protocol, which it argues is faster, cheaper, and more transparent. How big exactly is the cross-border transactions market? Significantly bigger than Ripple's current valuation.
"The Total Addressable Market (TAM) of global cross-border payments is substantial," Bitwise's report stresses, noting that this market surpassed $150 trillion in 2022. By 2027, it believes, total cross-border payments could exceed $250 trillion in annual value. "Capturing a small percentage of the global cross-border payments market could have a very significant impact on overall network activity and the economics for XRP," Bitwise concludes.
