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XRP Price Poised To Hit $20,000: Chad Steingraber Theory Outlines How - ManOfAdan
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XRP Price Poised To Hit $20,000: Chad Steingraber Theory Outlines How

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.

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.