It might be a good time to buy Monero (XMR) as a research firm’s new report suggests that Monero could reach the massive $18,000 mark in just a few years. The same report also hints at a massive crash of Ripple’s XRP.
The report by research firm, Satis group, tries to forecast the future of crypto market. And, according to the report, the 11th largest crypto, Monero (XMR) could move up to $18,000 in the next five years, which currently stands just over $105.
The report also suggested that Bitcoin (BTC) will reach $96,000 in the next five years. If this happens, the market cap of the cryptocurrency will move up to $1.5 trillion which leading to a dominant market position.
According to the report, “Despite a lack of appeal during retail frenzies, we continue to believe that BTC and its network effect will dominate end-market share within Currencies and the overall cryptoasset market, driven by: 1) increasing liquidity and purchasing avenues, 2) increasing brand recognition, 3) its position as the default base-pair within the crypto markets, 4) declining relative volatility, 5) relative lack of attack vectors, 6) network capacity alleviation through the maturity of layer-2 solutions, and 7) an increasingly high attack and overthrow cost.”
However, according to the report, Ripple’s XRP, the third largest cryptocurrency in the world will go down. The coin which was once traded at $3.84, is now valued at $0.33, will crash another 97 percent in the next five years. Cardano (ADA) is expected to face a similar fate which is expected to plunge by 99 percent to just $0.001.
Bitcoin cash (BCH) and EOS (EOS) will also have face bearish trends but their declines will not be that severe. It’s unlikely that at these valuations they will be used for anything beyond day trading and speculation.
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