Many Ripple (XRP) users have made predictions about how high the coin could rise. Some analysts predict that the price could reach up to $100. Another optimistic group thinks it could even go higher.
However, most of these highly optimistic predictions have been met with criticism. Critics argue that the price of XRP cannot reach $100 because of its market capitalization.
At the time of writing, XRP has a market capitalization of just over $80 billion. This is substantial at a price of around $1.40.
A price spike from $1.40 to $100 represents an increase of more than 7,000%. A 7,000% increase from the $80 billion market capitalization would take XRP’s market capitalization to $5.6 trillion.
Some critics believe this figure is unrealistic for XRP. Even the ‘mighty’ Bitcoin has not reached such significant numbers.
Why $100 Is Possible for XRP
Addressing this notion, Armando Pantoja, a crypto advisory board member at Benzinga, stated that claiming XRP price cannot reach $100 is akin to asserting that the internet could not become as big as it is today in 1992 when only one in every 30 homes had a PC.
Saying $XRP can’t go to $100+ because of “market cap” is like arguing in 1992 that the Internet can’t be as big as it is today because only 1/30 homes have a PC.
Think ahead. People adopt, things change and the world adapts.
— Armando Pantoja (@_TallGuyTycoon) November 24, 2024
In another post, he mentioned that if the internet were a company, its market capitalization would exceed $100 trillion. Bitcoin, XRP, and other cryptocurrencies are transformative technologies similar to the internet, and traditional market capitalization does not apply to them.
According to him, using market capitalization to limit price predictions is misguided. It is an outdated way of thinking. New technology is introducing new possibilities, and there is a need for a new metric that better measures adoption and utility than mere market capitalization.
Read Also: Federal Reserve Expands Hedera (HBAR) and XRP Integration for RLUSD Payments
While market cap is relevant in stocks and represents the equity of a company, in crypto we cannot account for all tokens in existence. Private keys are constantly lost, people forget passwords, and many individuals are also constrained by the same regulatory issues that affect stocks.
Whales Continue to Accumulate XRP Tokens
As the price of XRP strengthens, more people are joining the rally. Just over the weekend, whales accumulated more than 50 million XRP tokens, as reported by Ali Charts.
This could stem from a strong belief that the token has much more to offer than it currently does. For a token that missed the last bull run, this season might indeed be like a time bomb waiting to explode.
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