Could XRP Reach $1M if the Price Drop to 1RLUSD? Speculation Abounds
The XRP community has engaged in speculation regarding the potential for the XRP price to reach $1 million if the value of one XRP drop were to equal the value of 1 RLUSD, the forthcoming Ripple stablecoin. This speculation originated as a satirical remark by Vet, a vocal dUNL validator on the XRP Ledger (XRPL), in response to Ripple’s announcement of the impending launch of the RLUSD stablecoin. Vet’s commentary humorously highlighted the tendency of some community influencers to sensationalize routine developments.
Community Members Stance
The RLUSD stablecoin is anticipated to maintain a value of $1 at all times, being pegged to the US dollar. Crypto Tank, an XRP community member and self-proclaimed researcher, seized upon Vet’s commentary to advance theories about a potential surge in the XRP price.
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Notably, XRP is divisible into smaller units known as “drops,” akin to Bitcoin’s satoshis, with each XRP token comprising 1 million drops. Despite the XRPL’s previous calculation of XRP fees in units, an amendment from last year transitioned the fee structure entirely to drops, simplifying fee calculations across the platform.
While discussions about XRP drop units have been limited due to XRP’s relatively low price, which currently hovers around $0.5857, Crypto Tank postulated that as the XRP price attains higher levels, potentially surpassing $1, market participants may find it necessary to calculate XRP in drop units.
Furthermore, he speculated that if one drop of XRP were to equal the value of 1 RLUSD in the future, this would correspond to an XRP price of $1 million, given the existence of 1 million drops in one XRP. However, it is essential to note that this speculation is bold and remains unverified.
Farina Previous View on XRP
In a similar vein, Edward Farina, XRP Healthcare’s Head of Social Adoption, previously articulated similar views, suggesting that XRP could become so expensive in the future that traders may need to transact in drops. However, he did not project a potential price of $1 million for XRP.
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