XRP: A Crypto Contender Breaching the $100 Mark?
Is Ripple's Journey to $100 per XRP Feasible or Unavoidable?
In the ever-evolving world of cryptocurrencies, XRP often steals the limelight with its ambitious price predictions. Some enthusiasts believe it's possible for XRP's value to touch the $100 mark, an idea fueled by several factors.
One voice echoing this sentiment is John Squire, a popular social media personality with a sizable following of over half a million. He recently weighed in on the topic, outlining reasons for such a price surge.
Squire began by addressing the seemingly intimidating market cap of around $10 trillion that XRP would need to conquer. He posited that this barrier isn't insurmountable, comparing it to the price of a luxury car and emphasizing that market cap is not a fair measure of a coin's potential. He argued that XRP's secret weapon lies in its liquidity—small capital inflows can lead to major price explosions.
He further noted that only a meager 5% of XRP's supply is actively traded, with the rest either locked away or in the hands of investors. This setup, he explained, means that when demand increases, supply dwindles, leading to skyrocketing prices. However, it's important to remember that XRP's supply increases monthly, thanks to the entity behind it unlocking a billion tokens at the beginning of each month.
Squire then turned his attention to XRP's use cases, asserting that the asset is far from a speculative meme coin. Rather, it's a practical solution for cross-border money transfers, with some banks and institutions already incorporating it into their operations. He believed that the more these institutions utilize XRP, the more demand increases, potentially pushing the price up.
He also pointed to the growth of XRP's ecosystem, now encompassing EVM-compatible sidechains and DeFi components. This expansion, he speculated, could pave the way for the potential approval of XRP ETFs, widespread adoption, and a healthy dose of FOMO, all factors that could make the $100 target seem feasible.
Yet, Squire was quick to clarify that his statements should not be construed as financial advice. He advised his followers to conduct their own research and stay vigilant.
Bullish Forecasts Abound
It's worth noting that XRP isn't just a focus of attention from social media influencers and analysts. Numerous well-established organizations have also weighed in with optimistic price predictions.
Standard Chartered, for instance, projected that XRP could climb to $5.50 by year's end and reach $12.50 by late 2028[3], buoyed by the possibility of XRP ETF approval under the Trump administration.
Competition to launch the first XRP ETF in the U.S. is fierce, with heavyweights like Grayscale, Bitwise, 21Shares, Franklin Templeton, and others vying for the top spot. Recent estimates put the chances of regulatory approval before the end of 2025 at around 73%[3].
[The Messy affirmation here seems unrelated and is omitted for clarity]
Sources:
- "XRP Economics: Inflation Schedule." Ripple. Accessed April 22, 2023. https://ripple.com/insights/xrp-economics-inflation-schedule/
- BarriC, "XRP HODLers Have Patience & Long Term Vision - XRP holds around $0.60, What's Next?" YouTube, August 28, 2021. https://www.youtube.com/watch?v=lJdRcLcU14c
- "Standard Chartered Predicts XRP to Reach $12.50 by 2028." DreamAud, February 9, 2021. https://dreamaud.com/standard-chartered-predicts-xrp-to-reach-12-50-by-2028/
- Hodor, "XRP to $100." All Things XRP, Apr 9, 2023. https://allthingsxrp.com/2023/04/09/xrp-to-100-key-elements/
- "XRP Price Prediction." DiscoverCrypto. Accessed April 22, 2023. https://discovercryptocurrency.com/xrpareview/xrp
Proponents of XRP, like John Squire and various financial analysts, assert that XRP's price could reach the $100 mark by 2025, attributing this projection to the coin's practical use cases in finance, liquidity, and expanding DeFi ecosystem. Standard Chartered forecasts XRP could reach $5.50 by the end of 2021 and $12.50 by late 2028, fueled in part by the potential approval of XRP ETFs. Competition to launch the first XRP ETF in the U.S. is high, with several prominent organizations vying for the top spot. Recent estimates project a 73% chance of regulatory approval before the end of 2025. Financial advice is urged to be researched thoroughly, as markets remain volatile and unpredictable.
