A prominent crypto analyst has argued that XRP’s journey to a five-figure dollar asset would take decades to materialize amid its enormous circulating supply.
A pro-XRP X user recently sparked conversations about XRP’s price and the projected timeline to hit $10,000. The XRP enthusiast questioned the prominent crypto analyst with the X username “The Modern Investor” why he believes XRP could only be worth $10,000 in decades, even though Bitcoin attained a similar feat in less than ten years.
Besides, the questioner cited that Ethereum (ETH) is already on the path to becoming a five-figure valued asset with a price above $2,200. In contrast, XRP has yet to even break above $1 in 2023.
XRP Supply Makes the Difference
In response, The Modern Investor argued that the answer lies in XRP’s tremendous circulating supply. He cited that XRP has a total supply of 100 billion tokens while ETH has approximately 120 million circulating coins.
Specifically, he argued the significant XRP supply would require decades to diminish sufficiently for it to reach a five-figure value. Moreover, the pundit highlighted the impracticality of anticipating XRP absorbing a massive value in quadrillion dollars within a decade.
According to him:
“It will take decades for the XRP supply to burn low enough for it to be able to hit a 5-figure sum. It’s unrealistic to think that XRP would absorb 40 quadrillion dollars worth of value of the M1,2,3 supply in only 10 years.”
The supply. There are 100 billion XRP & 120 Million ETH. It will take decades for the XRP supply to burn low enough for it to be able to hit a 5 figure sum. Its unrealistic to think that XRP would absorb 40 quadrillion dollars worth of value of the M1,2,3 supply in only 10 years
— The Modern Investor (@ModernInvest) December 3, 2023
Despite the substantial supply of XRP, the XRP Army maintains a bullish stance on XRP’s potential. They dismiss concerns about its supply acting as a hindrance. They confidently project values like $5 and $10, believing these targets are achievable in the upcoming bull run.
Notably, the bullish XRP projections often bank on the digital asset’s use case in the financial landscape as well as projects building on XRP Ledger (XRPL).
As The Crypto Basic has disclosed, the XRPL ecosystem currently hosts more than 1,500 crypto projects, showcasing a diverse range of use cases for XRP.
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.
-Advertisement-
