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XRP holders are among the most ambitious crypto investors, with many anticipating beyond triple-digit values for the asset someday. Notably, XRP is worth just $0.5100 today and has been trading below $1 for over 42 months.
It last reached an all-time high six and a half years ago. Yet, ambitious XRP holders are targeting not only the double-digit range beyond $10 or triple-digit values beyond $100 but also $1,000. Interestingly, one analyst has even called $1,000 “peanuts” compared to what he believes will be the true height for XRP.
The Exchange Discussing XRP at $1,000
Remarkably, the U.S.-based exchange Uphold has repeatedly discussed the $1,000 price level for XRP over the last three years.
The first instance was in October 2021, when Uphold asked community members to suggest potential price outlooks for XRP in five years. One respondent suggested $1,000, and the exchange inquired what this individual would do if the $1,000 dream materialized.
Uphold subsequently sparked conversations around XRP’s outlook, including in November, December 2021, and July 2022, all of which included discussions about XRP reaching $1,000. Most recently, in September, Uphold itself tweeted, asking its followers what their next move could be in the realization of a $1,000 price for XRP.
Interestingly, Linqto, a pre-IPO investment outlet, also joined Uphold in this $1,000 XRP discussion in September.
Uphold’s Position in the XRP Community
The XRP community is increasingly banking on Uphold’s suggestion, given the exchange’s unique connections. Notably, Uphold has one of the largest reserves of XRP. In fact, the platform holds more XRP tokens from user deposits than it does for Bitcoin.
Moreover, Ripple has identified Uphold as one of the exchanges for its RLUSD stablecoin distribution. The exchange is also Ripple’s partner in cross-border payment settlement.
Members of the XRP community, always looking for clues to suggest “something is coming,” believe all of these factors may not be coincidental, urging themselves to “connect the dots.”
Implications of a $1,000 XRP Price
Notably, at a $1,000 price, XRP would have a market cap of $56.7 trillion, assuming most of its supply remains under escrow. This extraordinary valuation raises questions about the market caps of gold, Apple, Google, and Bitcoin, which are currently valued in the trillions of dollars, unlike XRP, which is still in the billions.
Interestingly, Ripple’s chairman Chris Larsen, who holds around 2 billion XRP, would become a trillionaire in the hypothetical scenario of XRP reaching $1,000.