In the ever-evolving landscape of cryptocurrency discussions, a passionate pro-XRP user has ignited a debate around XRP’s price trajectory, particularly in comparison to Bitcoin and Ethereum. The focal point of the debate is the projected timeline for XRP to reach $10,000, with contrasting opinions emerging within the XRP community.
The XRP enthusiast directed a question to a well-known crypto analyst with the moniker “The Modern Investor,” challenging the analyst’s assertion that XRP could take decades to hit a five-figure value, despite Bitcoin achieving a similar feat in less than ten years. Additionally, the enthusiast pointed out Ethereum’s progress towards a five-figure valuation with a price above $2,200, emphasizing that XRP has yet to breach the $1 mark in 2023.
The key factor at the centre of this debate is XRP’s substantial circulating supply, as highlighted by The Modern Investor. With a total supply of 100 billion tokens, XRP significantly surpasses Ethereum’s approximately 120 million circulating coins. The analyst argued that the sheer volume of XRP in circulation would necessitate decades for its supply to decrease sufficiently to support a five-figure valuation. He also deemed it impractical to anticipate XRP absorbing a massive value in the quadrillions within a decade.
The Modern Investor explained, “It will take decades for the XRP supply to burn low enough for it to be able to hit a 5-figure sum. It’s unrealistic to think that XRP would absorb 40 quadrillion dollars worth of value of the M1,2,3 supply in only 10 years.”
The supply. There are 100 billion XRP & 120 Million ETH. It will take decades for the XRP supply to burn low enough for it to be able to hit a 5 figure sum. Its unrealistic to think that XRP would absorb 40 quadrillion dollars worth of value of the M1,2,3 supply in only 10 years
— The Modern Investor (@ModernInvest) December 3, 2023
In contrast, the XRP Army, a vocal and bullish community supporting XRP, remains optimistic about the digital asset’s potential. Despite concerns about the extensive supply of XRP, they confidently project values such as $5 and $10, asserting that these targets are achievable in the upcoming bull run. The XRP Army often emphasizes the utility of XRP in the financial landscape and highlights the numerous projects building on the XRP Ledger (XRPL) as supporting factors for their bullish stance.
Recent disclosures indicate that the XRPL ecosystem hosts more than 1,500 crypto projects, showcasing a diverse range of use cases for XRP. This diversity in applications, coupled with the unwavering confidence of the XRP Army, adds layers to the ongoing debate surrounding XRP’s future price trajectory.
As the XRP community grapples with varying opinions, the clash over price predictions underscores the complex interplay between supply dynamics, utility, and market sentiment within the cryptocurrency space. Investors and enthusiasts alike are closely watching how these factors unfold as the digital asset landscape continues to evolve.