XRP price has had strong returns since its inception, as it jumped by 122,500% to the current $3.2885. Its market capitalization has jumped to over $180 billion, making it the third-largest asset in crypto.
Analysts remain optimistic about the Ripple token, with one popular pundit expecting it to jump to $1,000. This article explores whether this is a realistic long-term forecast and the most viable estimate.
Expert Sees XRP Price Surging to $1,000
A crypto expert going by the name Black Swan Capitalist on X believes that the XRP price will jump to $1,000 in the long term. In his post earlier this month, he predicted that the coin would become the bridge for tokenized assets, real-world forex, and sovereign debt swaps.
The analyst also hailed XRP’s fixed supply and its transaction burns that will make it highly deflationary over time as a strong catalyst.
To some extent, one can make the case that the XRP price will jump to $1,000 in the long term. Besides, Bitcoin moved from below $1 in 2009 to $122,000 today. Its market cap has jumped from below $5 million to over $2.4 trillion today.
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Additionally, XRP would need to increase by 31,150% from its current level to reach $1,000, which is possible given its 122,500% surge since its inception.
However, a closer look at other numbers shows that this XRP prediction is not all that viable, at least in the near term. XRP has a circulating supply of 59.3 billion tokens, meaning that a 31,150% jump would give its market capitalization of over $59 trillion.
Also, XRP has a fully diluted valuation of $327 billion, meaning that its valuation at $1,000 would be $102 trillion, close to the world GDP of $113 trillion.
Another important factor to note is that cryptocurrencies tend to move in sync. As such, if XRP jumps to $1,000 and the current ratio with Bitcoin remains, it means that BTC would have a market cap of 1 quadrillion and a price of $37.5 million.
Most Realistic Ripple Price Forecast
XRP price chart | Source: TradingView
The daily timeframe chart shows that the XRP price is on the verge of a strong bullish breakout. It has formed a giant cup and handle pattern with a depth of 55% and whose upper side is at $3.3960. Measuring the target from the cup’s upper side gives it a target of $5.2136.
Such a move will bring its market capitalization to over $306 billion. Based on this, XRP could potentially reach over $10 in the next few years.
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