Developer Forecasts XRP Could Skyrocket to $100k or Even $1M
In recent YouTube exclusive discussion, the former R3 Corda developer, Quincy Jones, explains how XRP’s price could potentially reach $100K or even $1M based on the utility and role of the XRP token. Jones highlights that XRP can function as a liquidity instrument, facilitating the onboarding of real-world assets such as stocks and bonds onto the XRP Ledger. Depending on the scale of the assets being brought onto the network, XRP’s price could surge to $100, $100K, or even $1M.
Jones emphasizes that XRP serves as a means of exchange between traditional assets and the blockchain, which could significantly impact its value. He also discusses the potential for XRP to be used for issuing both equity and debt on the XRP Ledger.
Moreover, there is speculation about Ripple’s partnership with UAE and India using XRP for oil purchases, potentially tapping into the $500 trillion sector. Recent market movements have shown XRP rallying 13% after breaking a two-week consolidation period while other cryptocurrencies experienced a decline.
Race to $1M, Community Remains Optimistic
In a recent community post, there was a light-hearted discussion about the potential for XRP to reach $1M, stemming from a comparison between Ripple’s stablecoin RLUSD and the US dollar. While such exaggerated price targets are abundant, a more realistic forecast from an analyst suggests that Ripple could reach anywhere between $7 to $10 based on technical analysis.
Read Also: XRP Expert Dispels Ripple Stablecoin Rumours
Other Analyst Stance
Another analyst, XForceGlobal, has highlighted a potential multi-year breakout for Ripple, indicating a significant rally for XRP if it manages to sustain its position above a certain trend line for a few more weeks. However, there are also cautionary notes about invalidation levels and potential downside risks.
While an all-time high (ATH) of $3.1 for XRP seems unlikely in the current market conditions, a more grounded prediction suggests that XRP could potentially rally to $1, marking a 56% increase from its current level of $0.651. Considering the recent 32% surge in just 23 days, a further rally to $1 is not beyond the realm of possibility.
Read Also: Terra Classic Community Expert Reflects On LUNC and USTC Price Volatility
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
