XRP for $100. Why is it almost impossible?

Posted 08 June, 2022

In the future, the XRP rate may reach $100, says Matt Hamilton, former director of developer relations at Ripple. He called this probability a matter of time.

"Any assumptions are subjective, no one can know for sure, so I don't make forecasts. But why can't the price of XRP rise to $100 at some point? It's only a matter of time. If you had said in 2009 that bitcoin would cost $60 thousand, you would have been laughed at," Hamilton wrote.

As of June 7, XRP ranks seventh in the list of the largest cryptocurrencies by capitalization. The price of the token is $0.39, which is 89% lower than the historical maximum of $3.7 set in January 2018.

The token failed to approach this value even during the bullish cycle of 2020-2021, when Bitcoin, Ethereum and other cryptocurrencies reached new record highs. XRP is under pressure from a lawsuit with the U.S. Securities and Exchange Commission (SEC), recalled Roman Nekrasov, co-founder of the ENCRY Foundation.

At the end of 2020, the SEC accused Apple of selling unregistered securities worth $1.3 billion under the guise of XRP tokens. The trial is still ongoing.

"The forecast of $100 for XRP seems to me unreasonably optimistic. I consider the achievement of $4-5 to be a good result for the token in the future of three years. But this will be possible only after the completion of the litigation with the SEC and in the case of a new bull cycle in the market," Nekrasov stressed.

Andrey Podolyan, CEO of Cryptorg, also said that Hamilton's words should not be taken seriously. He calculated the capitalization of the altcoin in case its price reaches $ 100:

  • The current capitalization of XRP is $40 billion with a token price of $0.4;
  • If the price rises 10 times and reaches $4, the capitalization will be $ 400 billion.;
  • At a price of $40, it will already be $4 trillion;
  • And with an altcoin value of $100, the capitalization will exceed $ 10 trillion.

The expert recalled that the capitalization of the entire crypto market at its peak was $ 3 trillion, and now it is at the level of $ 1.2 trillion.

"If the price of XRP reaches $100, bitcoin will cost at least $400 thousand," Podolyan predicted. He added that this will be possible only if the global financial system adopts Ripple technologies.

Now the company's token "does not have the strength" to return to the April 2021 maximum of $ 1.96, said Vladislav Antonov, financial analyst at BitRiver. According to him, only after that it will be possible to look at the level of $3.31, and it "will take more than one year."

Nikita Soshnikov, director of the AlfaCash cryptocurrency exchange service, sees a more realistic forecast for the growth of the XRP rate to $ 10, which will require at least 5 years.

"Now such an increase in XRP is hardly possible, at least because the crypto market is under strong pressure from the monetary policy of the US Federal Reserve, and it is unlikely that the situation will change dramatically before the end of the year," Soshnikov said.

He expects that if everything goes well for Ripple, that XRP has a chance to grow to $5 by 2024 (at this time, the expert expects a new bull cycle in the market) and to $10 by 2028.

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