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?
|Current Market Cap||$27.9 B||Lower|
|Trading Volume||$750.3 M||Higher|
|Metric||Last 24 Hours||Trend|
|Net Social Media Sentiment||42.8%||Higher|
XRP Price Performance so far
- Last 1 Month: +5.4%
- Last 1 year: +10.4%
- Since launch (2014): +8812.5%
Before we get into the forecasts, here is a quick catch-up with the news and our latest XRP $10,000 Poll
Latest XRP and Ripple News
- Ripple will unlock 1 billion XRP tokens from its escrow system built within the XRP Ledger on October 1 as per a pre-determined schedule (Until Feb 2027). In September, out of the 1 billion XRP released, Ripple relocked 80%, while the rest was put into circulation or spent, particularly following certain market events.
- Ripple has officially dropped its plan to buy Fortress Trust, a financial technology company, and crypto custodian. Ripple CEO Brad Garlinghouse confirmed this decision, stating that although they won’t proceed with the acquisition, Ripple will still remain an investor in Fortress. While the original plan has changed, Garlinghouse expressed ongoing support for Fortress and hopes for potential future collaborations.
Could Ripple reach $10000? Crowd Poll
- July 12th: +54.9%
July 13th [Ripple Court Decision]
- August 1st: +71.4%
- September 1st: +47.9%
- October 1st: +49.0%
- October 2nd: +47.0%
XRP $10,000 to $35,000: Is there a possibility?
“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.”
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. XRP reached its peak at $3.11 in January 2018.
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, compared to the 10.13 times growth in XRP’s price.
XRP $10,000 to $35,000: Key features of XRP Ledger
- 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.
- 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 $10,000 to $35,000: 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 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.
- 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.
XRP $10,000 to $35,000: 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.
A recent survey by Ripple found that 97% of global payment leaders believe blockchain and cryptocurrencies will significantly enhance payment speed within three years, and over half expect widespread merchant acceptance of crypto payments soon. Despite recognizing cost benefits, especially in cross-border transactions, unclear regulations are seen as a primary challenge to adoption. In a Deloitte study, 87% of US retail executives saw a competitive advantage in accepting digital currencies but called for clearer federal regulations.
XRP $10000: Could Ripple reach $10,000?
To reach a level of $10,000, Ripple would need to grow at a rate of 16,560 times. At $10,000, Ripple would have a market cap of $213 Trillion. Apple’s Market Cap is about 3 Trillion. This is certainly not practical. Considering past peak performance of 10.1 times growth in one month, XRP could reach a value of $10,000 in 216 years. This is also not practical either.
To summarize, given the current price and the likely market cap of $10000, it is impossible for Ripple to reach $10000 even if the use cases are brilliant. On top of all of this, likely competition, regulatory conditions, and macroeconomic conditions would all act as barriers for Ripple to reach $10000.
However, there are a few factors to consider
- If a large proportion of the Tokens are burnt over time
- Ripple use cases do not have regulatory challenges (Central Banks for example)
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.
Chad Steingraber: Suggests XRP could reach a value of $20K due to its deflationary nature, potential integration into banks’ back-end systems as a reserve currency, and anticipated hoarding by banks, decreasing its public supply and potentially significantly increasing its price.
Ripple $35000: Will XRP reach $35,000?
To reach a level of $35,000, XRP will need to grow 54,000 times
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 after the Ripple Victory
The discussions on Reddit after the judge ruled in favor of Ripple were overwhelmingly positive.
- The court ruling in favor of Ripple is being seen as a landmark victory for both Ripple and the broader cryptocurrency industry.
- This ruling is seen as a considerable progression for the crypto industry, correcting what is viewed as the SEC’s flawed understanding of the law.
- Following the verdict, many people are celebrating Ripple’s victory and are optimistic that this decision could trigger a surge in XRP’s price.
- Many individuals within the cryptocurrency community are likening this legal battle to a “David vs. Goliath” situation, expressing their joy at Ripple’s triumph.
The XRP Macro Narrative
- Ripple’s 2023 New Value Report reveals that 44% of respondents believe payments will be the main driver for crypto adoption, with cross-border payments being a top use case.
- Legacy payment rails for cross-border transactions are slow and inefficient, while blockchain and digital assets offer faster, cheaper, and more transparent alternatives.
- More than 80% of global finance leaders expect to incorporate crypto into their businesses in the next three years.
- The value of cross-border payments is projected to reach $250 trillion by 2027.
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 is required 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.
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.