Pundit Says Currency Reset Needed for XRP to Break $50, Dismisses $10,000 Forecasts

Prominent media personality and XRP enthusiast Zach Rector expressed skepticism that XRP could hit $10,000, noting that a currency reset is necessary for the asset to even break $50.

According to Rector, a crucial prerequisite for astronomical price surges to such a level is a Currency Reset and Debt Restructuring. Rector’s recent sentiment has triggered varied responses from the XRP community.

I don’t believe in $10,000 XRP because I believe we have a Currency Reset and Debt Restructuring before achieving such high prices.

They might have to reset everything before we even break $50…

The question would then be, how high will XRP go before we have a RESET?

— Zach Rector (@ZachRector7) September 14, 2023

A Currency Reset is an economic measure where a global entity reevaluates and potentially alters the value or peg of its currency in relation to other currencies or assets. 

On the other hand, Debt Restructuring involves modifying the terms of existing debt agreements, often to alleviate financial strain. Both these actions have far-reaching implications.

Rector asserts that these actions would be necessary for XRP to register any meteoric rise. However, the media personality holds a more conservative estimate for when these actions occur, setting a target of $50. 

Responding to Rector’s skepticism, the official X account of the media entity MohFit outlined a belief in the possibility of a $10,000 XRP. 

The viewpoint hinges on a scenario where XRP becomes the favored cross-border payment currency worldwide, facing little to no competition, and substantial tokenization occurs. 

However, the account acknowledged that this scenario relies heavily on the unpredictable inflation rate and regulatory developments in the United States.

XRP at $10,000

Interestingly, the $10,000 price forecast continues to dominate the XRP community, recently presented by pseudonymous influencer Bitforcoinz. He cited XRP’s potential role as a global bridge currency for CBDCs.

In addition, another notable XRP community influencer, Mack Attack, also made a case for an XRP rally to $10,000. This prediction stemmed from chart analyses carried out by prominent chartists.

Despite these $10,000 projections escalating, most community members have dismissed them, dubbing them mere fantasies. For XRP to hit $10,000, it would need to rally by 1,991,138% from its current price of $0.5022.

It’s essential to note that Zach Rector also championed the idea of a $10,000 XRP on his YouTube channel in December 2021. He delved into XRP’s design and its potential to handle trillions of dollars in daily transactions.

Rector presented a whiteboard explanation, proposing scenarios where XRP could reach four, five, or even six-digit values over the next decade. 

His calculations were based on XRP’s role in settling payments in Swift, a major player in international transactions. While Rector’s $10,000 XRP forecast garnered attention, he acknowledged then that the projections were speculative and not financial advice.