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BarriC and JackTheRippler, two prominent analysts in the XRP community, have put forward compelling cases for XRP surging to an audacious price of $1,000.
Despite XRP’s ongoing struggle to surpass the $1 threshold and the looming risk of a price dip below $0.5, market analysts maintain an optimistic outlook regarding its potential. Popular projections indicate the possibility of significant price surges to double-digit values like $10 and $27 this bull season.
Meanwhile, among the boldest price targets for XRP is the projection of $1,000. The forecast came from two analysts, suggesting an extraordinary growth of 189,186% from XRP’s market value of $0.5283.
Why $1,000 is Feasible for XRP: Analyst One
Analyst BarriC put forth a compelling case outlining the potential push toward $1,000. His argument challenged the perspectives of those who have dismissed such a possibility.
BarriC initially recounted the prices of top cryptocurrencies from 2016 to the present, highlighting their astronomic growth through the years. Specifically, he referenced Bitcoin’s ascent from $330 to over $73,000. He emphasized that while BTC traded at $330, outlooks for $73,000 were nonexistent.
Using this example, BarriC highlighted the unpredictable nature of crypto valuations. He argued that just as there was skepticism about Bitcoin reaching $73,000 when trading at $330, current disbelief surrounding XRP’s prospect of reaching $1,000 mirrors these past doubts.
In parallel, BarriC emphasized that as more individuals and institutions seek digital assets, crypto valuations will soar exponentially. He also highlighted the substantial amount of personal wealth—over $400 trillion—that remains on the sidelines and has yet to enter the crypto space.
Building on this foundation, BarriC outlined his outlook for XRP on a longer-term scale, spanning 5 to 10 years rather than focusing on the short term. Within this timeframe, he holds confidence in XRP reaching $1,000, considering the potential influx of retail and institutional capital into the crypto market.
Why XRP at $1,000 is Peanuts: Analyst Two
Meanwhile, analyst JackTheRippler holds the belief that XRP reaching $1,000 is merely a modest achievement. He stressed that XRP is not comparable to shares or stocks, pointing out that its blockchain XRP Ledger serves as a utility protocol for tokenizing value.
Accordingly, JackTheRippler highlighted the vast potential for the tokenization landscape. Specifically, he cited over $1.2 quadrillion worth of assets waiting to be tokenized, with the derivatives market alone valued at $500 trillion.
Based on these figures, JackTheRippler suggests that capturing just 10% of one market would amount to $50 trillion for XRPL. As a result, he concluded that $1,000 per XRP is a trivial target in light of the immense potential within tokenization.
XRP is NOT a share/stock. It is a Utility protocol to tokenized value. There are over $1.2 Quadrillion to be tokenized. The Derivatives market is $500 Trillion alone!
XRP to capture just 10% of one market is already at $50T. There is also the housing market, the
shares market,… pic.twitter.com/m9HKTpNzLM— JackTheRippler ©️ (@RippleXrpie) July 4, 2023
What It Means for XRP to Hit $1,000
If XRP hits $1,000, its fully diluted cap would be approximately $100 trillion. Notably, the entire crypto market is worth about $2.5 trillion, with Bitcoin alone accounting for more than 50%.
Remarkably, XRP’s fully diluted cap accounts for less than 2% of the crypto market’s valuation. Consequently, the hypothetical $1,000 per XRP envisions a scenario where the crypto market boasts a valuation in quadrillions. However, this goal remains speculative.