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$XRP community pundits speculate that the $XRP price could clinch $1 million if a drop of $XRP ever equals the value of 1 $RLUSD, the upcoming Ripple stablecoin.
These speculations emerged on the back of an attempt at satire by Vet, an outspoken dUNL validator on the $XRP Ledger (XRPL). With Ripple confirming that the $RLUSD stablecoin is only weeks from launching, Vet recently took to social media to humorously suggest that its value equaling $1 would be a “big” development.
Being pegged to the dollar, the $RLUSD is expected to be worth $1 at all times. Vet’s sarcastic commentary was a satire depicting the manner in which some influencers in the community discuss ordinary developments with tags as explosive news.
$XRP’s 1 Million Drops
Interestingly, Crypto Tank, an $XRP community member and self-acclaimed researcher, jumped on this commentary to propagate theories of a possible $XRP price surge. Notably, $XRP as a token is divided into smaller units called “drops,” much like Bitcoin has satoshis.
1 xrp has 1 million drops. Once $XRP rises in price the drops will come into play in a big way. So if 1 $RLUSD=$1 dollar, and 1 $RLUSD is paired to 1 $XRP drop in the future, then 1 $XRP would = $1 million dollars. David was asked this but kinda dodged the question. It's 100% possible
— CryptoTank (@Tank2033js) September 21, 2024
Each $XRP token consists of 1 million drops. Before now, some areas of the $XRP Ledger calculated $XRP fees in units. However, an amendment from last year completely changed this fee structure to drops, essentially allowing all areas of fees to be calculated in drops of $XRP, for easier calculations.
Besides calculating the fee structure on the XRPL, the $XRP drop units rarely make it to everyday discussions. This is largely due to $XRP’s low price, which remains below $1, as $XRP currently trades for $0.5857. For context, the last time $XRP saw the $1 mark was in November 2021.
Crypto Tank believes when $XRP price reaches greater heights, possibly surpassing $1, market participants would see a need to start calculating $XRP in units of drops.
1 $XRP Drop Equaling 1 $RLUSD
He then speculated that if, in the future, one drop of $XRP equals the value of 1 $RLUSD, then that would translate to an $XRP price of $1 million, seeing as there are 1 million drops in 1 $XRP. While Crypto Tank suggested that this is “100% possible,” the speculation remains audacious.
In a subsequent comment, the community figure doubled down on his speculation. He agreed that $RLUSD will always be $1, but argued that $XRP’s price could be much higher in the future. According to him, when $XRP price becomes too high, most market participants will resort to moving drops instead of one whole $XRP.
It bears mentioning that $XRP Healthcare’s Head of Social Adoption, Edward Farina, made similar assertions back in March. However, Farina never projected a possible $1 million price for $XRP. Instead, the Alpha Lions Academy CEO suggested that $XRP could become so unaffordable in the future that traders would have to resort to moving it in drops.