XRP Price Prediction as Former SEC Lawyer Says SEC Will ‘Probably’ Appeal

Technology

Will XRP Price Hit $100K or Even $1M? Here’s What a Developer Says – Crypto News

Published

1 year ago

September 30, 2024

Dripp

XRP price could hit $100, $100K, or even $1M, according to ex-R3 Corda developer Quincy Jones in a 2021 video. Jones explains how this unrealistic price target could become a reality due to the nature of XRP, which is a “financial instrument of liquidity.”

Will XRP Price Hit $100K or $1M?

According to Quincy Jones, XRP is a financial instrument of liquidity between stocks, crypto, bonds, and debt. Since XRP is considered a liquidity tool, it would cost XRP for issuers to issue debt, stocks, cryptos or other assets.

In addition to issuing equity, adds Jones, debt could also be onboarded to the XRP Ledger.

“So XRP is only bound by the fiscal responsibility of the people that issue assets. So XRP could be $100, $100K, $1M,” says Jones.

Hypothetically speaking, the developer added that $100 trillion worth of equity can be issued on the network if need be. Likewise, if the government wanted to issue $500 million, it can also be done on the XRP Ledger. But the critical point mentioned by Quincy Jones is that to do the above, XRP will serve as the means of exchange between US Dollars and the blockchain, which could have a massively bullish impact on the XRP considering the size of the asset issued.

A recent XRP news includes a rumor that Ripple’s partnership with UAE and India will use XRP for Oil purchases. Many speculate that this could allow Ripple to tap into the $500 trillion sector by leveraging XRP. In other news, XRP rallied 13% after breaching its two-week consolidation while Bitcoin and other crypto prices tanked. What’s next?

XRP Eyes $1M According to Community

In a recent post, the XRP community’s prediction suggested how XRP price could be worth $1M. This story development began when a popular developer sarcastically noted the parity between Ripple’s stablecoin RLUSD and 1 US dollar. To which a community member noted if an XRP drop would be worth $1, it could put the XRP at $1. Readers must note that an XRP token comprises a million drops.

While the exaggerated targets for XRP price are a dime a dozen, investors needed to be more realistic and grounded in expectations. One analyst notes that Ripple could hit anywhere between $7 to $10 based on his analysis of XRP breaching a multi-year trend line.

Analyst Forecasts Ripple’s New ATH of $10

In a recent X post, XForceGlobal posted an XRP chart that hinted at a multi-year breakout. Since 2020, Ripple price is getting squeezed between two converging trend lines, denoting a drop in volatility. Such a range tightening often leads to a massive volatility breakout.

In this case, XForceGlobal suggests that the recent breakout to the upside hints at a massive rally for XRP. The analyst adds that if Ripple manages to stay above this trend line for a “few more weeks” then XRP could revisit the $7 to $10 range.

XRP/USD 1-day chart

The invalidation levels for XRP include the July swing low at roughly $0.37. A breakdown of this level would need to make investors cautious as it means a further downside could be next. If buyers fail to step in here, Ripple could slide down to $0.28, which would invalidate the symmetrical triangle pattern and the bullish thesis and prevent XRP from going to $7 or $10.

Grounded XRP Price Prediction Suggests $1 Likely

While it is highly unlikely that the XRP could ever hit its ATH of $3.1, this bull run could easily propel the token to $1. This target would suggest a 56% rally from the current level of $0.651. Considering that Ripple has shot up 32% in just 23 days, it is not outside the realm of possibility for this top altcoin to rally another $56 and hit $1.

Frequently Asked Questions (FAQs)

Developer Quincy Jones predicts XRP could reach $100, $100K, or $1M due to its role as a financial instrument of liquidity.

Ripple’s partnerships, potential use cases in massive sectors (e.g., oil purchases), and breaking out of its consolidative trend could drive XRP’s price increase.

Analyst XForceGlobal forecasts XRP could reach $7-$10 if it maintains its upward trend.