BarriC and JackTheRippler, two well-known analysts in the XRP community, have presented compelling arguments for XRP skyrocketing to an ambitious price of $1,000.
Despite XRP’s ongoing struggle to surpass the $1 mark and the potential risk of falling below $0.5, market analysts remain optimistic about its potential. Popular projections suggest the possibility of significant price surges to double-digit values like $10 and $27 during this bullish season.
One of the most audacious price targets for XRP is the projection of $1,000. This forecast comes from two analysts who believe in an extraordinary growth of 189,186% from XRP’s current market value of $0.5283.
Analyst BarriC has presented a compelling case for XRP’s potential push towards $1,000, challenging the perspectives of those who dismiss such a possibility. He starts by highlighting the astronomical growth of top cryptocurrencies from 2016 to the present, using Bitcoin’s rise from $330 to over $73,000 as an example. BarriC emphasizes that when Bitcoin was trading at $330, no one believed it could reach $73,000. He argues that the current skepticism surrounding XRP’s potential to reach $1,000 mirrors these past doubts.
BarriC also points out that as more individuals and institutions adopt digital assets, cryptocurrency valuations will skyrocket. He highlights the significant amount of personal wealth, over $400 trillion, that is still on the sidelines and has yet to enter the crypto space. Building on this foundation, BarriC outlines his long-term outlook for XRP, spanning 5 to 10 years, and expresses confidence in XRP reaching $1,000 due to the potential influx of retail and institutional capital into the crypto market.
Meanwhile, analyst JackTheRippler believes that XRP reaching $1,000 is merely a modest achievement. He argues that XRP is not comparable to shares or stocks, as its blockchain XRP Ledger serves as a utility protocol for tokenizing value. JackTheRippler highlights the immense potential for tokenization, citing over $1.2 quadrillion worth of assets waiting to be tokenized, with the derivatives market alone valued at $500 trillion. Based on these figures, he suggests that capturing just 10% of one market would amount to $50 trillion for XRPL. Therefore, he concludes that $1,000 per XRP is a trivial target considering the vast potential within tokenization.
If XRP were to reach $1,000, its fully diluted market cap would be approximately $100 trillion. It’s worth noting that the entire crypto market is currently valued at about $2.5 trillion, with Bitcoin accounting for over 50% of that. XRP’s fully diluted market cap would thus represent less than 2% of the crypto market’s valuation. This hypothetical scenario envisions a crypto market valuation in quadrillions. However, it is important to note that this goal remains speculative.
Disclaimer: This article provides informational content and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.