XRP got back-to-back legal wins in the recent past, and that’s what makes XRP a hot choice for investors. Since XRP is the only regulated asset in the crypto realm. Steven Nerayoff, an early advisor for Ethereum and a notable member of the XRP community, recently shared his optimistic views on the future of XRP’s value.
In response to an enthusiast’s inquiry about XRP potentially reaching $10 or even $100, Nerayoff offered a nuanced perspective. What sets his perspective apart is the belief that XRP’s price may have no bounds if certain conditions are met. Here’s what he meant:
XRP to Explode 1,000%? When and How?
Nerayoff’s belief in XRP’s potential is grounded in the idea that the cryptocurrency may not have a predefined upper limit. He contends that as development teams continue to advance XRP’s utility, especially in global payments, its value could continue to rise without bounds. This hinges on the concept of “network effects,” where widespread adoption of XRP could fuel a surge in demand.
Furthermore, Nerayoff identified Ripple as a key player in this scenario. He suggested that Ripple’s current strategic position will open doors for early adoption necessary to drive up XRP’s demand. Once XRP becomes an integral part of the Ripple ecosystem, Nerayoff argues, any notion of a price ceiling could fade away. He illustrated this point by comparing it to the US Dollar, which maintains a relatively stable value despite its gradual devaluation over time due to its indispensable role in global finance.
“I believe XRP has no ceiling,”
Nerayoff also contemplated the possibility of XRP taking on the role of a reserve currency. Additionally, he theorized that Ripple’s perceived targeting by powerful entities might be connected to the potential disruption XRP could bring to established financial norms.
Is this Hypothetical Surge Realistic?
Due to the recent XRP price increase, some analysts have made bold forecasts. Oaksacorn predicts an explosive surge to $43 based on 2015-2017 market cycles, whereas EGRAG CRYPTO predicts XRP’s legal victory will push it to $27. Shannon Thorp’s prediction of XRP reaching $500 is the most insane. This prediction requires a $250 trillion market cap, well above the industry’s valuation. Thorp’s prognosis was in context when Bitcoin hit about $70,000 in 2021, with a $3 trillion market valuation.
Hang On More Troubles Awaiting?
In the ongoing legal dispute between Ripple (XRP) and the U.S. Securities and Exchange Commission (SEC), a significant development has popped. The SEC is pressing for a substantial settlement of $770 million from Ripple. This demand is rooted in the SEC’s allegations that Ripple violated Federal Securities Laws through its institutional sales of XRP. This latest development adds a significant layer of complexity to the already intricate legal battle between the two parties.