Can Ripple price reach 100 $ ever? You might not Like the Answer… (2024)

Table of Contents
What is Ripple Crypto? Why is XRP down currently? XRP Price Prediction – Can XRP reach 100 $ ever? Will XRP crash soon? Can XRP reach $10? Conclusion Recommended posts Ripple and XRP Controversies: What is Ripple (XRP)? XRP Price Analysis: XRP Price Predictions:

Can Ripple price reach 100 $ ever? You might not Like the Answer… (1)

Can Ripple price reach 100 $ ever? You might not Like the Answer… (2)

Ripple company is one of those crypto projects that stirred many controversies. The first one came from the crypto community, as some perceived the token XRP to be centralized, having a company run everything. The second one came from the SEC, as they thought the company sold unregistered securities without having a proper license to do so. Controversies aside, the XRP token fell from #2 to the current #6 on the list of the biggest cryptocurrency by market cap. XRP price got behind major stablecoins as the current market is bearish. Can XRP reach 100 $ ever? Is that even possible? Let’s find out.

What is Ripple Crypto?

Ripple is a project that allows users to send, receive, hold and move currencies across borders in a fast and reliable way. Our current system which relies on banks and payment gateways is slow, fragmented, and expensive. Ripple company can settle transactions in 3 to 5 seconds from anywhere in the world. It is in fact much faster than Bitcoin and Ethereum!

Additionally, the infrastructure is highly scalable and is able to handle more than 1,500 transactions every second. You might ask now, How is this all possible? Well, RippleNet uses the open-source XRP ledger blockchain to track, process, and guarantee all transactions. But unlike Bitcoin, XRP does not use Proof-of-work and has no concept of mining. This means that the blockchain’s power consumption is minimal and is able to keep transaction fees low. XRP transactions are handled by an independent community of validation nodes who maintain the network and the transaction protocol.

Another plus for Ripple is that they are anti-money laundering compliant, with fraud detection, sanction screening, and regulatory reporting in place.

Why is XRP down currently?

Well, it all depends on which price you purchased XRP. If you purchased anywhere above $1, you will feel that the XRP price is low and not performing well. On the other hand, if you were among the few who caught the price drop when the SEC lawsuit was just announced, you might have been able to catch the low price of $0.11. This means that those lucky ones made more than 290% between 2020 and 2022. The current price of XRP is around $0.43 with a market capitalization of $21.4 Billion.

Can Ripple price reach 100 $ ever? You might not Like the Answer… (4)

Despite the current SEC indictment that is pending, the price has performed well in the last bull market.However, the court case is not over yet, so caution should be exercised.On the other hand, chances that Ripple company can win the lawsuit are getting bigger. This might be a good sign for XRP hodlers, as any positive news in this regard can send XRP shooting high.

XRP Price Prediction – Can XRP reach 100 $ ever?

We hate to be the “bringers of bad news”, but let’s analyze. As stated earlier, Ripple has a current market cap of $21.4 Billion. If the price somehow managed to scale to $100, that would mean that the total market cap would have to be around $4.3 trillion! This seems pretty much impossible, especially compared to traditional capital markets.

Basically, it is very daring to ever suspect XRP in the direction of the $10 mark even. In fact, XRP wasonce the second-largest cryptocurrency by market capitalization and reached its all-time high of $3.38. This happened during the bull market between 2017 and 2018.

Since this high, the Ripple price has lost more than 85% in value, so even these price areas appear to be extremely difficult to attain.Additionally, from a technical analysis point of view, things are looking quite bearish for XRP in the longer term.

Can Ripple price reach 100 $ ever? You might not Like the Answer… (5)

Looking at figure 2 above, we can see a glimpse od hope as XRP prices tried to retrace higher. This formation is a trend reversal formation, which often causes prices to rise.If Ripple price fails to continue higher though, we would expect the price to head towards the 2022 bottom soon.This is also possible in case the SEC lawsuit turned sour, sending prices back to $0.11.

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Will XRP crash soon?

As long as the Bitcoin price stays stable around $20,000, XRP price might be able to reverse higher.Bitcoin partly drives the market, with a current dominance of around 40%.Since Ripple is one of the most well-known currencies, we do not assume a crash where XRP alone loses value.Despite the technical analysis, one should definitely watch the court proceedings.If Ripple wins the case, there could be a strong pump.This could invalidate the possible double-top formation.

—–> Click here to Buy XRP <——

Can XRP reach $10?

Reaching the $10 mark would mean a market cap of $400 billion for Ripple, which is more than 50% of what Bitcoin currently is.Such a market capitalization is not entirely impossible for XRP, but in the dimensions in which the cryptocurrencies are, it is currently still rather unlikely to reach this valuation any time soon.

Conclusion

Even if the technical indicators for this event are not too positive, Ripple is likely to see its all-time high again.The $10 could be on the chart at some point, but it doesn’t look like it any time soon. That might happen after the SEC resolution, when the crypto market is massively adopted, and when regulators accept cryptocurrencies.

In the event of a new bull market, one should therefore be satisfied with a possible breach of old highs, even if some articles advertise surreal figures such as $100 or $589.

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As a seasoned expert in the field of cryptocurrencies, particularly Ripple (XRP), I bring a wealth of knowledge and insight into the dynamics of this evolving market. My understanding goes beyond surface-level information, allowing me to delve into the nuances and controversies surrounding Ripple, including its ongoing legal battle with the SEC. Let me break down the key concepts mentioned in the article:

Ripple and XRP Controversies:

  1. Centralization Concerns:

    • Ripple, as a company, has faced criticism for centralization, with some perceiving the XRP token as being controlled by the company.
    • The community has expressed reservations about the level of decentralization compared to other cryptocurrencies.

  2. SEC Lawsuit:

    • The SEC has raised concerns that Ripple sold unregistered securities without the necessary license.
    • The legal battle has led to uncertainties affecting the market performance of XRP.

  3. XRP Market Performance:

    • XRP has dropped from the second position to the sixth in the list of cryptocurrencies by market cap.
    • The current market conditions, described as bearish, have impacted the price of XRP.

What is Ripple (XRP)?

  1. Ripple's Purpose:

    • Ripple is a project designed to facilitate fast and reliable cross-border transactions, aiming to overcome the inefficiencies of traditional banking systems.

  2. Transaction Speed and Scalability:

    • RippleNet enables transactions to be settled in 3 to 5 seconds globally, faster than Bitcoin and Ethereum.
    • The infrastructure is highly scalable, capable of handling over 1,500 transactions per second.

  3. XRP Ledger:

    • RippleNet utilizes the open-source XRP ledger blockchain for tracking, processing, and ensuring the security of transactions.
    • Unlike Bitcoin, XRP does not use Proof-of-work and has no mining concept, resulting in minimal power consumption and low transaction fees.

  4. AML Compliance:

    • Ripple is anti-money laundering compliant, incorporating fraud detection, sanction screening, and regulatory reporting mechanisms.

XRP Price Analysis:

  1. Current Price and Market Cap:

    • XRP is currently priced at around $0.43 with a market capitalization of $21.4 billion.

  2. SEC Lawsuit Impact:

    • The price performance of XRP is influenced by the ongoing SEC lawsuit.
    • Those who purchased during the initial drop when the lawsuit was announced benefited from a significant price increase.

  3. Long-Term Technical Analysis:

    • Technical analysis suggests a bearish outlook for XRP in the longer term.
    • Potential retracement to the 2022 bottom is mentioned if certain conditions are not met.

XRP Price Predictions:

  1. $100 Price Scenario:

    • Analyzing the possibility of XRP reaching $100 involves considering the current market cap of $21.4 billion and the challenges associated with achieving a market cap of $4.3 trillion.

  2. $10 Price Scenario:

    • Reaching $10 would require a market cap of $400 billion for Ripple, deemed unlikely in the current cryptocurrency dimensions.

  3. Conclusion:

    • While technical indicators may not strongly support extremely high price predictions, a return to the all-time high is considered plausible.
    • Caution is advised, especially considering the pending SEC resolution and the broader regulatory environment.

In summary, my in-depth knowledge of Ripple and the cryptocurrency market allows me to provide a comprehensive analysis of the current state of XRP, its controversies, and potential future scenarios.

Can Ripple price reach 100 $ ever? You might not Like the Answer… (2024)
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