XRP $10,000 to $35,000: Is there a possibility? (2024)

“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?’

XRP Price Performance so far

Before we get into the forecasts, here is a quick catch-up with the news and our latest XRP $10,000 Poll

XRP Latest News

XRP is undergoing a price pullback. The support at $0.62 has been broken and now the price is on the verge of crashing below $0.60.

Despite the price pullback, the long/short trade volume of XRP spiked around 84% reaching $908.56 million. Open interest also saw healthy gains across the board, rising 3.18% to $672.76 million, with options open interest leading the charge with a 15.02% jump to $290.99 million.

The XRP Long/Short ratio over the last 24 hours stands at 0.9505, indicating a slightly higher inclination towards short positions. Across different exchanges, the sentiment varies: Binance shows a Long/Short ratio of 5.854 for XRP/USDT accounts, while OKX reports a ratio of 3.47. Moreover, the top trader Long/Short ratio for XRP/USDT accounts on Binance sits at 4.8928, with a ratio of 2.9268 for positions. These mixed ratios across platforms suggest a diverse market sentiment, with a predominant inclination towards long positions but a notable presence of short positions, indicating potential volatility or uncertainty in the near term for XRP.

Palau has advanced its CBDC with Ripple as the Ministry of Finance of Palau officially launched the second phase of its Palau Stablecoin (PSC) program. The second phase will prioritize the development of a digital ecosystem and increased user engagement, emphasizing adherence to regulatory compliance. Palau’s stable coin also known as Palau Stablecoin (PSC) is pegged to the US dollar and it uses Ripple’s, XRP Ledger.

Ripple’s partner in Japan, financial giant SBI Holdings is partnering with Saudi oil giant Saudi Aramco to promote digital assets and startups in both Japan and the Middle East. They’ll create a new company called SBI Middle East based in Saudi Arabia to spearhead this initiative. This partnership could significantly boost digital asset adoption in both regions and benefit Ripple, a major SBI partner.

Could Ripple reach $10000? Crowd Poll

• July 12th: +54.9%

July 13th [Ripple Court Decision]

• Aug 1st: +71.4%
• Nov 1st:+55.2%
• Dec 1st:+62.0%
• Dec 18th: +43.0%

XRP $10,000 to $35,000: Is there a possibility?

Yes, XRP $10000 to $350000 is possible only if a very large proportion of XRP Tokens are destroyed.

XRP $10000: Reaching $10,000 for XRP is highly improbable due to its required market cap of $540 trillion, which is unrealistic and exceeds global GDPs. Factors like competition, regulation, and economic conditions further hinder such growth. While scenarios like token burning and favorable regulations could help, these are speculative. Chad Steingraber’s theory of XRP hitting $20K due to deflationary aspects and bank adoption remains conjectural. Read the detailed analysis after this section

XRP $35000: It’s highly unlikely that XRP will reach $35,000, given it would require a market cap of $1885 trillion, far exceeding the valuation of major companies like Apple and the entire global stock market. Achieving this level of growth is unrealistic, especially considering the technological and regulatory challenges in the sector. Claims of such a significant increase in XRP’s value in the next decade are overly ambitious. Read the detailed analysis after this section

XRP $10000: Could Ripple reach $10,000?

XRP will never reach $10000 as it will never reach a Market Cap of $540 Trillion greater than the GDP of all the countries combined.

To reach a level of $10,000, Ripple would need to grow 16000 times. At $10,000, Ripple would have a market cap of $540 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, Ripple can’t reach $10000 even if the use cases are brilliant. On top of all of this, 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 posits that XRP could hit $20K due to its deflationary nature, potential bank integration as a reserve currency, and expected bank hoarding which could lower public supply and boost its price. He emphasizes XRP’s unique features—limited supply, deflationary aspect, and ability to issue assets like IOUs, and differentiates between circulating supply and market cap, terming the latter as “phantom money.” He mentions that XRP’s On-Demand Liquidity (ODL) may not majorly affect its price as it’s meant for smaller financial entities, not large banks. Steingraber speculates big banks might hold XRP as a reserve asset, akin to gold and could create digital coins based on XRP’s ledger, establishing XRP as a key global financial asset. He also discusses a potential XRP scarcity as banks accumulate it, leading to a “business dependency,” and foresees a significant market value impact once institutions fully assimilate XRP into their systems.

Also Read

Will XRP reach $500?

Will XRP reach $10 in 2023?

Ripple $35000: Will XRP reach $35,000?

XRP will never reach $35000 as it will never reach a Market Cap of $1885 Trillion. Apple is valued at $3 Trillion today.

To reach a level of $35,000, XRP will need to grow nearly 55,000 times. This translates to a market cap of $1885 Trillion.

If XRP were to rise by 25% every year, it would take 50 years to reach this level. Now, we know it is impossible to sustain that level of growth for 50 years, particularly in any technology domain combined with high regulatory intervention.

Many Social media analysts have offered multiple arguments on how this could happen but to claim boldly that Ripple will reach a market cap of $1885 Trillion sometime in the next 10 years is very very ambitious. The Global Stock Market is worth $106 Trillion in 2023. It was 30 Trillion, 20 years ago.

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.

Alliance Nexera Price Prediction

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 must grow at a rate of 3.5 times, assuming it has already achieved a price of $10,000. This is not a huge target. 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, the odds of reach $10000 itself are quite low.

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.

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 many transactions. The XRP ledger can 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

1. Infrastructure:
   • 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.
2. 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.
3. Wallet:
   • Gatehub: Offers wallets for storing and interacting with various blockchains, including XRP.
4. NFTs:
   • X-tokenize: Supports the issuance of non-fungible tokens (NFTs) on the XRPL.
5. Exchanges:
   • 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.

Let us 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 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.

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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.