I doubt if XRP will ever reach to $1.
it got massive supply..
Yes, it does have a massive supply (relatively). And yes, all the tokens are pre-mined.
BUT
What no one takes into account is that every transaction on the Ripple network requires a small transaction fee in XRP (much like Gas for Ethereum). But since there are no XRP miners, these fees don't go to miners. Instead, they are burned. Every single time theres a transaction on the Ripple Network, there is less XRP in circulation.
I'm doubting many people here lack a firm understanding of economics to I'll explain further. When the quantity of a commodity decreases, the price increases. The demand stays the same (or even increases), while the supply is steadily decreasing. This is what's called "deflation" (opposite of inflation, where a currency is worth less and less).
Are there any calculations about this? Like how many XRP have been burned already?
I didn't know this so thanks for pointing it out.
I'm shure when all the big banks will use XRP one day, the small ones will follow and then XRP will skyrocket.
Hold Ripple for 5 years is what I say.
But I think SWIFT is making their own blockchain.