Shen, the founder of the XRP Ledger-based NFT game Zerpmon, has addressed the popular XRP $10,000 price outlook problem.
The XRPL builder shared his view on the hypothetical XRP price target in a recent interview with prominent XRP community figure Crypto Eri.
In the words of a builder regarding the $10,000 #XRP price.
To view the full-length video: https://t.co/zQvEjgBVAT pic.twitter.com/trweBhMpu8
— ?Crypto Eri ?Carpe Diem (@sentosumosaba) January 14, 2024
The $10,000 XRP Price Problem
During the interview, Shen voiced concerns about the limited engagement from the XRP community regarding their held assets. He believes the low participation contributes to the stagnant growth of the ecosystem compared to competing blockchains.
According to Shen, the problem stemmed from the prevailing notion among XRP holders anticipating a future where XRP is valued at $10,000.
Specifically, he argued that the XRPL suffers from low activity because many holders adopt a passive strategy, stashing away XRP in anticipation of a significant price surge. In his words:
“As a builder, I think one of the biggest reasons why the XRPL has such low participation compared to the number of holders is because of this idea that’s perpetuated—that you hold XRP, stash it away, and one day it’ll be worth $10,000 each. The problem is that no one is using their XRP.”
Essentially, the XRPL game founder emphasized the necessity for users to engage with their XRP holdings to stimulate growth.
Furthermore, Shen drew parallels with the success stories of other major cryptocurrencies like Ethereum (ETH), Binance Coin (BNB), and Solana (SOL). He stressed that holders’ active participation within their respective ecosystems fueled their growth.
No Price Increase Until Active Participation
In parallel, the founder of Zerpmon stated that the XRP community needs to move away from the mentality of holding for speculative gains and instead actively use XRP within the ecosystem.
According to him, the XRPL’s growth and a potential increase in XRP’s value are contingent on users finding reasons to utilize their holdings.
“We’re not going to see that sort of increase and even an increasing price on XRP until people are actively using it. Until there’s a reason to use that XRP,” Shen explained.
XRP Army Reacts
While some community members validated Shen’s claim, they contended that the XRP price rise and its utility do not rely on retail users.
Another perspective suggested that XRP price appreciation would materialize following the conclusion of Ripple’s lawsuit. “XRP has been attacked from all angles,” an X user remarked.
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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