XRP $10,000 to $35,000: Is there a possibility?
XRP $10,000 to $35,000: Let us explore the possibility of XRP reaching $10,000 and $35000. How long will it take to reach these levels?
Ripple is always in the headlines, especially because of the lawsuit by SEC. However, an exciting question that is being asked is, “Will XRP reach $10000 or $35,000?” and “How much time will it take to reach that value?”
First of all, let us analyze various factors (such as XRP’s price movements, its competitors, etc) that can help us determine XRP’s growth rate in the future.
Latest XRP Updates
The current market price of XRP is $0.41. The price has remained flat over the last 7 days.
There has been a whale activity, where $ 46 Million worth of XRP Tokens (Trending lower) were transferred from an Unknown wallet to another unknown wallet. These activities continue to support the short-term bullish momentum
XRP’s price movement to reach an all-time high value
Analyzing the price movements is always one of the crucial factors to determine and predict the price of crypto. Below is XRP’s all-time graph; we can see that the coin peaked at $3.11 in January 2018.
Image: All-time curve of XRP
XRP’s lowest price was $0.0059 (in September 2013), meaning that it took nearly 52 months for Ripple to reach its all-time high price of $3.11. Note that, it was almost 527 times growth from its lowest to its all-time high price.
Keeping in mind, its current price of $0.388, we can safely say that XRP’s price has declined by 8 times since 2018, though it has faced many ups and downs in between.
Considering a growth rate of 527 times (Past history) which it completed in 52 months, we can say that it can grow at a theoretical rate of 10.13x in one month.
Growth curve of XRP competitors
Ripple’s prominent competitor is Ethereum; let us have a look at ETH’s all-time high price
Image: ETH’s all-time curve
ETH’s all-time high price was $4,635 which it achieved in November 2021. The price was $2.8 in 2015 which means it took Ethereum 75 months to reach its all-time high value. This was a growth of 1655 x or growth of 22x in one month, in comparison with 10.13 times growth in XRP’s price.
XRP is a useful token
Unlike some meme tokens that do not hold any utility, XRP is pretty useful. Below mentioned are the two main use cases of the token:
- XRP serves as an intermediate exchange between two networks or currencies.
- The tokens can be used either for transactions or as an investment.
Reddit community discussions
SEC filed a lawsuit against Ripple in December 2020 stating that XRP should be registered as a security and not a currency. Though the company has denied the allegations, a lot of things are happening since then and ultimately affecting the price of XRP. Let us see what the Reddit community thinks about the lawsuit and its possible effect on XRP’s price:
In the latest discussion regarding SEC’s reply to Ripple’s opposition to SEC’s Summary Judgement, we can see that people aren’t having negative sentiments for XRP. In fact, the majority of them didn’t even understand SEC’s reply in the first place.
Another user wrote, “They just don’t want to give up and look bad, meanwhile I just keep stacking XRP”.
Not only this, many such replies indicate that many investors haven’t lost faith in XRP and aren’t affected by the lawsuit. It is indeed a piece of positive news for XRP, meaning that it has a scope to grow in the future as it has a huge supporting community.
Also Read: NMR Price Prediction
Will XRP reach $10,000?
To reach a level of $10,000, XRP requires to grow at a rate of 26,315x keeping in mind its current price of $0.38.
In theory, it could reach a value of $10,000 in 216 years (keeping in mind the past track record of 10.13x growth in one month). However, this method is not the only factor to consider and it is not practical either. This is because of the difference in macroeconomic and liquidity factors in recent times, compared to 5 years ago. Note that XRP achieved its all-time high price before Covid. Compared to that, the conditions now are completely different, meaning that XRP can take even more time to reach $10,000 than 216 years.
The reality is even 216 years isn’t a practical period. However, any miracle is possible in the crypto world keeping in mind its highly volatile nature.
Will XRP reach $35,000?
To reach a level of $35,000, XRP requires to grow at a rate of 92,105x keeping in mind its current price of $0.38.
Therefore, it should theoretically reach a value of $35,000 in about 757.69 years (keeping in mind its 10.13 times growth in one month). Again, it’s not practical because there is a lot of difference in the macroeconomic factors as of now, compared to earlier times.
Moreover, 757 years doesn’t seem much practical either. So, Will XRP reach $35,000? Probably yes, if you have enough patience to wait around for 757 years. However, it can achieve that value a little sooner if the liquidity and macroeconomic factors become in its favor in the coming year.
Conclusion: XRP $10,000 to $35,000
Let us find out how much time will XRP take to reach $35,000 once it has achieved a value of $10,000.
To reach a level of $35,000, XRP requires to grow at a rate of 3.5 times keeping in mind it has already achieved a price of $10,000. Therefore, it can certainly go from $10,000 to $35,000 in less than a month, if the economic factors remain in its favor.
It means that only reaching a value of $10,000 is a tough job for XRP; it can certainly do wonders once it has crossed that barrier. However, it is still a good time to reach a value of $10,000.
Let us also see, what the Reddit community thinks about XRP reaching $10,000. In a discussion, a few months ago, Reddit users had mixed opinions regarding its price.
One user wrote, “Have you ever thought, the dollar could devalue significantly thus increasing the value of XRP to the dollar? Like it’s not all about XRP increasing in value”. While another wrote, “I didn’t say it was impossible, just that it seems high”.
One interesting comment was- “This just isn’t happening. But if it did, nobody in my family would have to work for probably 500 years”. Another interesting comment includes, “This will happen when a burger costs 1000 dollars”.
More such comments on the topic indicate that people are probably not certain about XRP reaching a value of $10,000 or even $35,000.
As of now, we can say that Ripple is giving good competition to Ethereum and its other rivals. However, it needs to be stronger to survive the competition in the market. But, having a huge supporting community can be turned out in its favor and it might reach an all-time high value soon, despite the ongoing lawsuit against it.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.