Patrick Riley, the CEO of Reaper Financial, has issued daring projections for XRP, including a 3,510% growth and a forecast that XRP could take the place of Bitcoin.
Riley made the bold comments in an interview with pro-XRP YouTuber enthusiast Zach Rector. In the podcast, Riley claimed to have conducted an analysis on XRP a few weeks ago.
XRP Surpassing Bitcoin
Per the disclosure, the findings from the research formed the foundation of his belief that XRP is poised to surpass Bitcoin as the leading cryptocurrency during the coming bull run. In his words:
“What I expect from XRP going into 2024, and one of the things I’m expecting very realistically during this bull run, is that XRP will surpass Bitcoin as the number one cryptocurrency.”
Meanwhile, he emphasized that this prediction does not imply Bitcoin’s failure but rather an anticipation of XRP’s ascendancy in the crypto hierarchy.
You won’t want to miss this one folks! LIVE at 830 PM EST tonight! #XRP #BTC
XRP Will Surpass Bitcoin! $22 XRP Price Prediction! Interview With Patrick Rileyhttps://t.co/if38IcaqUc
— Zach Rector (@ZachRector7) December 17, 2023
Also, Riley was critical of Ethereum, characterizing it as a “dying horse” that has been struggling for a long time. Riley cited JP Morgan’s disappointment with Ethereum’s V2 and identified high costs and network dysfunction issues.
In contrast, Riley highlighted the potential of XRP, especially with the introduction of an EVM side chain. He predicted ERC20 token projects would transition to the XRP Ledger due to its faster, more cost-effective, and functional network.
Emphatically, he argued that tokens with competent teams would consider XRP an attractive alternative when the EVM side chain goes live. In his words:
“I expect a lot of those tokens to come over to the XRP Ledger. I believe Casino Coin was probably a pioneer in doing so. They switched over rather early, but they’re definitely not the last.
XRP to Hit $22 or Higher
Meanwhile, the host asked Patrick Riley to disclose his price target for XRP for the coming bull run. Riley stated he foresees XRP reaching $22 or higher in its next peak.
Moreover, he expressed a belief that XRP will maintain a value of over $10 even during the subsequent bear market.
From XRP’s current market value of $0.6094, a $22 price point amounts to a growth rate of 3,510%. However, he emphasized that his prediction should not be considered financial advice.
While several commentators have emphasized that it is unlikely for XRP to claim this price in the next bull run, should this occur, the token’s market cap would soar to $1.18 trillion, far surpassing Bitcoin’s valuation of $839 billion.
However, this evaluation considers a scenario where BTC doesn’t appreciate by a large margin a highly unlikely outcome.
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-
