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?
XRP Latest Price
XRP Performance Summary
- Last 5 days:-3.1%, Outperformer*
- Last 1 month: +15.0%, Outperformer
- Last 6 months: +27.1%, Outperformer
- Last 1 year: +29.1%, Outperformer
“Ripple is constantly making headlines, primarily due to the lawsuit filed by the SEC. However, an intriguing question that is being raised is, ‘Will XRP reach $10,000 or $35,000?’ and ‘How long will it take to achieve that value?’
First and foremost, let’s analyze various factors such as the latest news, XRP’s price movements, its competitors, and more, which can assist us in determining XRP’s growth rate in the future.”
Could Ripple Reach $10000? XRPL Latest News
- XRP’s dominance in the cryptocurrency market has significantly increased, reaching an eight-month high. Analysts predict a potential rally for XRP, with its value possibly rising as high as $0.9. JD, a prominent crypto market analyst, highlighted XRP’s successful challenge of a long-term downtrend and suggested that XRP’s market stature is outperforming altcoins and Bitcoin.
- Legal experts argue that the final ruling in the SEC vs Ripple lawsuit is unlikely to heavily impact the crypto industry due to the SEC’s reliance on enforcement actions. They highlight the limited effectiveness of enforcement in clarifying regulatory expectations.
Why is Crypto Crashing Today and Will it Recover?
XRP Buy or Sell? Crowd Poll
Positive feelings towards XRP continue to remain extremely elevated and favorable.
XRP’s price movement to reach an all-time high value
Analyzing the price movements is always one of the crucial factors in determining and predicting the price of a cryptocurrency. Below is the all-time graph of XRP, where we can observe that the coin reached its peak at $3.11 in January 2018.
Image: All-time curve of XRP
The lowest price of XRP was $0.0059, recorded in September 2013. It took nearly 52 months for Ripple to reach its all-time high price of $3.11. It’s worth noting that this represents a growth of almost 527 times from its lowest to its all-time high price.
Growth curve of XRP competitors
Now, let’s take a look at the growth curve of XRP’s prominent competitor, Stellar XLM.
The all-time high price of XLM was $0.89, also achieved in January 2018. In 2017, the price of XLM was $0.0052, indicating that it took XLM 8 months to reach its all-time high value. This represents a growth of 171 times or a growth of 21 times per month, in comparison to the 10.13 times growth in XRP’s price.
Key features of XRP
- XRP has fast transaction speeds, which allows for almost instant transactions.
- XRP is highly scalable, which means it can handle a high volume of transactions. The XRP ledger has the capacity to process up to 1,500 transactions per second, which is significantly faster than other digital assets.
- It has low transaction fees compared to other digital assets, which makes it an attractive option for users who want to send small transactions.
- XRP is highly liquid, which means it can be easily bought and sold on cryptocurrency exchanges. This makes it a suitable digital asset for traders and investors.
- The XRP ledger uses advanced encryption technology to secure transactions and prevent fraud. The ledger is decentralized, which means it is not controlled by any single entity, making it more secure and less susceptible to hacking or manipulation.
- XRP has a clear and specific use case as a bridge currency for cross-border payments, settlements, and remittances. This gives it a practical and valuable purpose in the world of finance.
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.
- XRP is used as a bridge currency in cross-border payments to enable faster and cheaper transactions.
- XRP enables faster and cheaper remittances by eliminating the need for intermediaries and reducing transaction fees.
- XRP can be used for settlements in financial markets.
- XRP can be used for micropayments, which are small transactions usually less than $1.
- The XRP token can be used in DeFi applications such as lending, borrowing, and trading. XRP’s fast transaction speed and low fees make it a suitable digital asset for DeFi.
Is XRP a good investment? Read here
Also Read: NMR Price Prediction
Ripple $10000: Will XRP reach $10,000?
To reach a level of $10,000, XRP would need to grow at a rate of 26,315 times.
In theory, based on the past track record of 10.13 times growth in one month, XRP could reach a value of $10,000 in 216 years. However, this method alone is not the sole determining factor, and it is not practical either. This is because the macroeconomic and liquidity factors have changed significantly in recent times compared to five years ago. Note that XRP achieved its all-time high price before the onset of Covid. Given the current conditions, which are completely different, it is likely that XRP would take even longer than 216 years to reach $10,000.
However, there are a few factors to consider
- If Ripple wins the case against the SEC
- If a large proportion of the Tokens are burnt over time
- Ripple use cases do not have regulatory challenges
In a combination of the above scenarios, the number of coins circulated would fall substantially making it possible for Ripple to reach $10000 in say 3-4 decades.
Ripple $35000: Will XRP reach $35,000?
To reach a level of $35,000, XRP requires to grow at a rate of 92,105x
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.
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. 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.
XRP Use Cases
- Bithomp: An XRPL explorer and toolkit, used by many cryptocurrency exchanges.
- Cryptum: An API/SDK platform for integrating the XRP Ledger with any application.
- Gatehub: Provides an explorer to track Gatehub’s issuances on the XRP Ledger.
- OnTheDex: A quality source of information for aggregator sites to take live feeds of XRPL token activity.
- Towo Labs: Develops XRP Ledger and Interledger infrastructures to make non-custodial crypto management easier.
- XRPL Rosetta: Explores fiat data on XRPL through visualization.
- XRPL.org Ledger Explorer: A block explorer for the XRP Ledger.
- XRPScan: An explorer and analytics platform for the XRP Ledger.
- Developer Tooling:
- Evernode: Proposes a permissionless, flexible, scalable Layer 2 smart contract network built from the XRP Ledger.
- X-tokenize: Offers a command line tool to simplify the process of creating, managing, and distributing issued currencies and NFTs on the XRPL.
- XRP Toolkit: Provides a platform for managing crypto assets and trading on the XRP Ledger’s decentralized exchange.
- Gatehub: Offers wallets for storing and interacting with various blockchains, including XRP.
- X-tokenize: Supports the issuance of non-fungible tokens (NFTs) on the XRPL.
- Bithomp: Used by many cryptocurrency exchanges to track XRPL transactions and data.
These companies and projects represent a vibrant XRPL ecosystem, each contributing to the advancement and adoption of the XRP Ledger across various industries and use cases.
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.