Experts Say XRP’s True Value Could Be $10,000 – Crypto News – Crypto News
Connect with us
XRP XRP

Blockchain

Experts Say XRP’s True Value Could Be $10,000 – Crypto News

Published

2 days ago

on


Este artículo también está disponible en español.

A popular cryptocurrency has once again captured the attention of many crypto investors after some experts started discussing the potential long-term valuation of the digital asset. Prominent market analysts believe that XRP could possibly reach $10,000 per coin, saying that the notion is “not a crazy” prediction but a conservative one.

Related Reading

Realistic Price

Several crypto analysts argued that a valuation forecast of $10,000 is feasible which they believe could be fueled by institutional adoption and its potential role in global finance.

“$10,000 XRP isn’t crazy. It’s conservative,” Rowen Exchange said in an X post.

The crypto analyst showed a number of reasons why the $10,000 price target for XRP is a conservative figure.

Institutional Adoption

According to Rowen Exchange, one of the strongest arguments that XRP could reach $10,000 is the token’s adoption. The crypto analyst explained that the token has experienced exponential growth in its institutional adoption.

Rowen Exchange pointed out that once major banks, payment processors, and governments increase their usage of XRP for cross-border payments, the demand for the tokens is expected to soar leading to a price surge.

The crypto expert said that XRP has a total supply of 100 billion coins. However, Rowen Exchange noted that only half of the token’s total supply is actually circulating in the market because of escrow releases and long-term holdings.

XRP market cap currently at $154 billion. Chart: TradingView.com

The analysts theorized that once institutions start hoarding the token for liquidity purposes, it is predicted that it would result in a supply squeeze which might push the price to go up.

Rowen Exchange added that institutional adoption is different from retail-driven speculation because it can provide sustained liquidity and volume, leading to an ascending price over time.

Although $10,000 could be a conservative estimate, XRP would be required to grow by over 362,000% to reach that price target from its current price of $2.76, something skeptics see as a long way to go for the token.

Related Reading

‘Highly Unlikely’

Meanwhile, a crypto community member commented on Rowen Exchange’s post saying that the $10,000 price target is “highly unlikely.”

The crypto investor disagrees with the prediction arguing that in order for XRP to reach $10,000, the token would need to have a market cap of $1 quadrillion, arguing that it is “unrealistic” since the market cap of the entire cryptocurrency is about $3 trillion, as of 2024 while the global economy has around $100 trillion.

However, another crypto analyst believes that market capitalization is irrelevant in XRP’s potentially reaching $10,000, explaining that market cap does not matter because the token’s value is utility and not speculation.

The analyst added that XRP can facilitate massive global transactions efficiently, claiming that the token is built for the next era of global finance.

Featured image from DALL-E, chart from TradingView

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending