Can XRP reach $20?
|Current Market Cap||$27.3 B||Lower|
|Trading Volume||$704.7 M||Steady|
|Metric||Last 24 Hours||Trend|
|Net Social Media Sentiment||34.5%||Lower|
Latest XRP News
- Ripple’s CEO, Brad Garlinghouse, recently revealed that the company’s legal expenses have skyrocketed to a massive $200 million. This is a significant increase compared to the $100 million reported just a year ago in July 2022. This sharp rise in legal costs highlights the growing tension between the cryptocurrency industry and the U.S. Securities and Exchange Commission (SEC).
- XRP holders who are clients of GMO Coin, a cryptocurrency exchange linked to the Japanese IT giant GMO Internet Group, are in for a special treat. They will receive Songbird (SGB) tokens through an airdrop which is set to happen by September 29, 2023.
- In the ongoing XRP lawsuit against the SEC, there’s speculation that a settlement could be in the cards following Ripple’s recent legal win. However, attorney John Deaton, who advocates for XRP, explains that a settlement won’t be straightforward for either side due to specific conditions.
- Deaton points out that any potential settlement would need to avoid negatively impacting other cryptocurrency-related legal cases, including the ongoing lawsuit involving the U.S.-based crypto exchange Coinbase. Additionally, negotiations would focus on XRP sales to institutional clients only, as previously ruled by U.S. Judge Analisa Torres, who considered them unregistered securities offerings.
XRP, Buy or Sell Poll
Net Buy Rating = Buy% – Sell%
- July 1st: 41.6%
- July 13th – Ripple SEC Court Decision
- August 1st: 61.7%
- August 31st: 51.1%
- September 1st: 51.0%
- September 22nd: +46.3%
Can XRP reach $20? About XRP
The XRP Ledger (XRPL), which was launched in 2021, is an open-source, decentralized technology. It offers several advantages, including low transaction costs ($0.0002), fast transaction settlements (3-5 seconds), high scalability (1,500 transactions per second), and environmentally friendly features (carbon-neutral and energy-efficient).
Additionally, it includes the first decentralized exchange (DEX) and the ability to create custom tokens. Since 2012, the XRP Ledger has been operating consistently, having completed 70 million ledgers.
Features of XRPL:
- The XRP Ledger offers applications and use cases related to payments, including micropayments, DeFi, and soon, NFTs.
- The XRP website provides tutorials to help developers get started with coding languages, app development, and account management.
- Along with its native coin, XRP, the XRP Ledger enables developers to create solutions for inefficiencies in remittance and asset tokenization.
- The main applications of the XRP Ledger are payments, tokenization, DeFi, CBDCs, and stablecoins.
Can XRP reach $20? Calculations:
In order for XRP to reach $20, it would need to increase by a factor of 25. At $20, XRP’s Market Cap will be $1.05 Trillion. If XRP were to grow at a rate of 25% each year, it would take about 7 years to reach $20. Let us evaluate this data
- Quality of Investment- Good (based on its past performance)
- Growth required to reach $20- Feasible (Example: Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 22000 times higher)
- Market Cap at $20- Not Feasible
- Time required to reach $20 if XRP were to rise at 25% per annum- Partially Feasible
Considering the criteria Quality of Investment, growth required and time required, XRP has a moderate to good chance of reaching $10. Let us analyze it further:
Is it possible for XRP to rise 25 times?
XRP needs to increase by a factor of 25 within a period of 8 years. When we look at the example of Bitcoin, BTC experienced a growth of 1400 times within a span of 10 years. Therefore, it would be considered quite significant for a coin to grow 25 times in the next 8 years.
Can we forecast accurately that a token will grow at a rate of 25% every year for the next 8 years?
No, a token cannot consistently grow at a specific price, and it is impossible to accurately predict its growth rate over the next 8 years. Therefore, it is not feasible to expect XRP to maintain a consistent growth rate of 25% over the next 8 to 9 years.
The future performance of a token is influenced by various factors and market conditions, making it uncertain and subject to fluctuations.
Can XRP reach $20? Conclusion:
- XRP has a useful purpose as a token.
- It is a promising investment option.
- It has the potential to achieve the necessary growth rate within the specified timeframe.
- However, reaching a market capitalization of $1.05 trillion is currently not achievable.
Considering all these factors, we can conclude that there are moderate chances of XRP reaching $20 within the specified time period. Nevertheless, it is possible for XRP to reach that level at some point in the future.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.
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