Why divide by 20 billion? You mentioned yourself that there are 100 billion in total?
And how is the value of a limited currency dependent on the worth of the company that hands them out?
My analysis is based on the idea that the creators of Ripple had some idea of XRP's expected value. If that is true, how much did
they think it should be worth?
Hence, I divide by 20 billion because that's how much they reserved to themselves as profit. And then asked, how much did they think a successful company should be worth? and divided that amount by 20 billion.
It includes a great deal of speculation on my part but the idea was to get a "ballpark" estimate of a reasonable valuation of XRP based on the founders' expectations.