2024-9-18 22:35 |
XRP has continued to trade within a narrow range since dropping from its peak of $3.84 in early 2018. Despite maintaining a stable and growing market capitalization—currently ranked seventh with a valuation of $33.2 billion—XRP has exhibited minimal price fluctuations.
This lackluster performance can be attributed to the XRP community largely adopting a risk-off stance, reflected in the modest 15% price increase over the past year, as investors await the resolve of the high-stakes legal battle with the SEC.
Despite some investors growing disillusioned with the extended stagnation, others remain hopeful. Some have introduced intriguing theories proposing extraordinarily high valuations for XRP.
Popular analyst Levi Rietveld presented one such analysis on Sep 16. In a video on X, the pundit suggested that if XRP were to become the cornerstone of a new global financial system, its market capitalization could potentially skyrocket into the quadrillions of dollars, significantly elevating XRP value to a fair market value of $38,999.
Rietveld’s forecast considers the total global debt to be approximately $350 trillion, and the derivatives market to be valued at around $750 trillion. He posited that under such a scenario, where XRP plays a central role in financial transactions and broader financial infrastructure, its price could theoretically surge to his suggested price.
Notably, this prediction becomes even more intriguing when considering the broader ambition of major institutions which are exploring the tokenization of real-world assets.
“Black rock and all of the other largest institutions in the world are wanting to start the tokenization of all real-world assets. They don’t just want to replace a current debt system but they want to move everything over to this new system…we want that to be the XRPL…and if that is the case for the XRPL, this is the type of price you can expect for every single XRP coin” he noted.
Rietveld also emphasized the importance of liquidity in realizing this potential value. He noted that achieving such high valuations would require substantial liquidity, which he believes will be facilitated by Ripple’s upcoming IPO.
“The IPO from Ripple is what’s going to make or break this crazy XRP price,” Rietveld added. He also emphasized the need for regulatory clarity and significant institutional investment to drive XRP’s price to these new heights.
Other analysts have offered varying projections for XRP. Recently financial analysts from Vahil Capital referenced a different model predicting a fair market value of $12,000 for XRP. This estimate, derived from the 99-Year Golden Eagle model, considers XRP’s role as a medium of exchange and assumes significant long-term adoption and market share.
“Adoption of XRP as a store of value is the pathway to that high valuation. That path begins with the adoption for transactions and exchanges of value,” the analysts stated.
At press time, XRP was trading at $0.589, reflecting a 1.21% surge over the past 24 hours.
Similar to Notcoin - Blum - Airdrops In 2024
Ripple (XRP) на Currencies.ru
|
