Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. A new prediction from crypto commentator BarriC has drawn attention to the long-term future of XRP. According to him, the token’s price has so far only been shaped by altcoin seasonsand the four-year cycle, leaving an entirely different scenario still unexplored. He believes that when XRP eventually enters a utility run, its value could rise far beyond the levels seen today, moving to $100 first and finally settling at $1,000. XRP Has Never Experienced A True Utility Run
Like many other cryptocurrencies, XRP has been subject to cycles of hype, corrections, and quick inflows of capital. Its rallies in previous bull markets, particularly in 2018, were based largely on investor sentiment rather than on widespread real-world use. However, many crypto analysts have argued that the dynamics of XRP are changing, especially now that the SEC-Ripple lawsuit,which has dragged the natural growth of its price down, has ended. Related Reading XRP Takes On Live TV: Analyst Predicts Surge To $13 If This Happens 2 days ago
According to BarriC,no cryptocurrency, including XRP, has gone through what he calls a utility run. A “utility run,” as he describes it, would be based on adoption across banking networks, remittance companies, and global payment systems. In such a scenario, XRP would move away from being valued purely as a speculative asset and instead gain a price level backed by constant, large-scale demand for transactions.
Furthermore, no data exists to describe what happens when trillions of dollars start flowing directly through XRP. The absence of precedent leaves room for dramatic upside that cannot be measured by prior cycles alone, and the idea is that there’s no way that the XRP price stays between $3 and $4 if millions, billions, and trillions of dollars start flowing through the XRP Ledger. Why $1,000 Is Not Out Of The Question
The possibility of XRP reaching well above double digits at $10, triple digits at $100, and four digits at $1,000 has been a well-discussed topic amongXRP supporters and critics this cycle. Proponents like BarriC argue that XRP is well on track to reach $1,000 and stabilize above this level. However, critics say this isn’t possible, considering the market capit would need to achieve this price. Related Reading XRP Price At $36: 7-Year Bottom Breakout Could Trigger Repeat Of 2014-2017 4 days ago
Addressing those who argue that XRP can never reach $1,000, BarriC countered by pointing out that such claims are not based on evidence. Since no cryptocurrency has yet experienced a true utility-driven cycle, dismissing four-digit targets for XRP is premature. Once XRP starts to see millions in inflows and becomes the backbone of global financial transactions, then it is entirely possible to reach such levels. “That’s when we see prices for $XRP exceed $100 and settle comfortably at $1,000,” he said.
At the time of writing, XRP is trading at $2.97, down by 4.8% in the past 24 hours. Right now, the first thing would be to maintain a position above $3. XRP trading at $2.96 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com