Of late, the XRP members are split into two: those who accept the Bearableguy123’s theory and those who do not. The philosophy of interest is whether the value XRP will rise to $589 within the next three months. Spread by a party labelled Bearableguy123, this forecast has split the previously unified XRP community over opinions of whether it takes place or not.
Bearableguy123 is thought to be an XRP insider, offering cryptic hints about the value of the coin. He has made various forecasts in the past twelve months, referring to collaborations between different firms and Ripple which have come to pass.
His forecasts also encompass price trends on specific days and general information on when to invest in XRP.
The Probability of the $589 Theory Being Fulfilled
Basically, the $589 prediction has three probabilities of transpiring. The first and the commonly held view is that the launch of xRapid will drive the value of the coin upward because of a high increase in trading volume.
The second view is that the heightened burn of XRP due to charges from the high trading volume will push the price high.
Lastly, there are supporters who argue that 58.9 is the atomic mass of Cobalt- a name of a version believed to modify the operating speed of XRP.
The Superior Probability
The most probable out of the three is that the launch of xRapid will positively drive the price of XRP to $589. xRapid is XRP’s fastest product so far for cross-border operations and applies XRP as a bridge cryptocurrency for facilitating cross-border transactions.
Bearableguy123 YouTube channel did the calculations of what will transpire after the xRapid launch. He worked out the average daily variation and the average daily volume of XRP and found 7.25% and $191 million in that order.
He went further to theorize what the value of XRP would be if Ripple seized 1%, 5%, 10% and 100% of the current incumbent, SWIFT’s market stake.
In conclusion, it is impossible for the value of XRP to rise to $589 within three months, considering the several demands that must be met before the value exponentially rises. Besides, the launch of xRapid will not automatically drive the value of XRP instantly, as various regulatory hoops must be met before XRP is used maximumly for cross-border transactions.