Can Ripple (XRP) Reach $100 This Cycle? BTC Proponent Calls It Impossible
The post Can Ripple (XRP) Reach $100 This Cycle? BTC Proponent Calls It Impossible appeared on BitcoinEthereumNews.com.
TL;DR XRP jumped 43% in a week, nearing its all-time high, with analysts eyeing $4–$8 targets amid rising adoption and US political shifts. One skeptic dismissed $100+ predictions as unrealistic due to market cap limits, calling XRP a “distraction” compared to Bitcoin (BTC). ‘XRP is a Distraction’ Ripple’s XRP has been flying high in the past week. Its price jumped from $2.30 (on January 10) to almost $3.40 on January 16. Thus, the asset stood just 1% away from its all-time high registered at the start of 2018. Currently, XRP is worth approximately $3.31 (per CoinGecko’s data), representing a staggering 43% increase on a seven-day scale. XRP Price, Source: CoinGecko Key drivers behind the significant rally include increased whale activity, excitement over political shifts in the USA, rising network adoption, and others. For more insights, further details are available here. The massive resurgence has given analysts the opportunity to speculate that the coin’s price may pump to unseen and even ridiculous levels. The popular X user EDO FARINA, for instance, said he would not sell his XRP holdings before the valuation reaches $100. On the other hand, the Bitcoin proponent Rajat Soni claimed that such optimistic predictions come only from people with “undiagnosed mental disability.” The finance expert explained that XRP’s potential price explosion to $100 would require its market capitalization to skyrocket to $10 trillion. Soni’s calculations are based on the total supply of XRP, which is almost 100 billion tokens. Multiplying the $100 price to the circulating supply of 57.5 billion coins will mean that the asset’s capitalization needs to soar above $5.5 trillion, which is still quite unrealistic (to say the least). To put things into perspective, the entire market cap of the crypto industry is less than $4 trillion (as of press time). In addition, Soni…
Filed under: News - @ January 17, 2025 11:24 pm