Is a $100 XRP Possible? Skeptics Say It’s Just a Distraction from Bitcoin!

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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’

In the past week, Ripple‘s XRP has been soaring. Its price rose from $2.30 on January 10 to nearly $3.40 on January 16, barely missing its all-time high that was recorded at the beginning of 2018 by a mere 1%. As of now, according to CoinGecko’s data, each XRP is worth approximately $3.31, marking an impressive 43% surge over the past seven days.

Factors fueling this substantial surge involve heightened involvement from large investors (whales), enthusiasm about political developments in the U.S., and growing user acceptance of the network. For a comprehensive understanding, additional information can be found here.

The significant comeback has opened up a chance for analysts to contemplate that the coin’s value could surge to unprecedented and even absurd heights. For example, renowned X user EDO FARINA stated that he would not part with his XRP holdings until its valuation hits $100.

However, Bitcoin advocate Rajat Soni argued that such optimistic forecasts are made by individuals who may have “yet-to-be-diagnosed cognitive impairments.” He clarified that for XRP’s price to surge to $100, its market capitalization would need to soar to an unprecedented $10 trillion.

Soni’s estimations are derived from the total number of XRP tokens, approximately 100 billion. If we multiply the current market price of $100 by the circulating supply of 57.5 billion coins, it implies that the asset’s market capitalization should exceed $5.5 trillion, a figure that appears quite implausible (to put it mildly).

For a clear understanding, it’s important to note that the total value of all cryptocurrencies combined, as we speak, is less than four trillion U.S. dollars.

Furthermore, Soni mentioned that some larger optimists predict that the value of a single XRP coin might soar to an astounding $1,000.

“XRP is a distraction. Stick to Bitcoin,” he concluded.

Some Realistic Forecasts

Although a price of $100 per XRP coin may appear excessively high, several analysts have recently made more reasonable forecasts (taking into account XRP’s recent bull run).

One instance is the X user CRYPTOWZRD, who holds the conviction that the asset might be on the verge of a quick surge to a fresh peak at $4, followed by a further growth spurt to $8.

Dark Defender joined the discussion, predicting a push towards approximately $3.6239 and $4.5503. The analyst stated, “XRP needs to put in some effort, but we’re almost there.

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2025-01-17 22:28