Crypto expert and former Ethereum advisor Nerayoff believes XRP could reach unprecedented heights, challenging price limits and global financial standards.
Steven Nerayoff, an early advisor for Ethereum and a notable member of the XRP community, recently contributed to the discussion about XRP attaining double and triple-digit dollar values in the future.
In a recent tweet, an XRP enthusiast sought Nerayoff’s view concerning the future of XRP. He asked about the possibility of XRP reaching the lofty heights of $10 or even $100.
Nerayoff acknowledged that offering a straightforward response to such a question is complex. Yet, he provided an overview of his thoughts.
I believe XRP has no ceiling if they achieve their objectives. It’s not a simple response but I’ll give a high level take. Usually a lower XRP price would make their offering more attractive. However, @Ripple is clearly the odds on favorite to win in a “network effects” model.…
— Steven Nerayoff (@StevenNerayoff) October 27, 2023
XRP Has No Ceiling
The ex-Ethereum adviser first expressed a belief that the future of XRP could be promising. “I believe XRP has no ceiling,” Nerayoff remarked.
Nerayoff argues there may be no defined limit for XRP provided that teams building with XRP achieve their objectives. This may include making XRP a standard currency for global payments.
Nerayoff pointed out that Ripple is a strong contender in a “network effects” model. His view implies that Ripple is positioned favorably to attain widespread adoption. This adoption could bolster XRP demand.
Moreover, Nerayoff noted that once Ripple successfully achieves the model, XRP would become an essential part of the ecosystem, which could eliminate any perceived ceiling on its price.
“Once this is achieved, XRP must be used. And at that point, I don’t see a ceiling on the price,” Nerayoff submitted.
To illustrate his point further, Nerayoff drew a comparison to the US Dollar, which is widely adopted and functions as a global standard due to its network effects. He argued that there seems to be no upper limit to the price of the dollar.
Nerayoff’s view is that the price of the dollar remains relatively stable even though it loses value over time. According to him, USD’s indispensability overshadows its monetary worth.
Furthermore, Nerayoff speculated the possibility of XRP taking on a role as a reserve currency. Also, he pondered that Ripple’s supposed unfair targeting by powerful entities might be related to the potential disruption XRP could cause to the established financial order.
Ultimately, Nerayoff clarified that he currently holds no XRP or Ethereum tokens, attempting to signal that his insights were not from a biased viewpoint.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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