Recently, Robert Doyle, the founder of Cryptonairz, asserted that XRP is the future, projecting a hypothetical price point of $10,000.
Doyle, who goes by “Crypto Sensei” in the crypto community, expressed this sentiment in a recent analysis exploring XRP’s utility in the payment market. Specifically, he grounded the $10K outlook for XRP on the expectation that XRP will be adopted by the BRICS nations—Brazil, Russia, India, China, and South Africa—as part of their financial system.
XRP Is the Future, Here is how it will reach $10,000 (BRICS ADOPTING XRP)
XRP and Ripple's technology offer solutions for the banking industry's payment infrastructure, including faster, cost-effective international payments and potential partnerships with central banks.#XRP… pic.twitter.com/zyKjvdXVAS
— CryptoSensei (@Crypt0Senseii) June 2, 2024
XRP as Settlement Asset
Doyle pointed out the global necessity for a reliable settlement currency to facilitate cross-continental money transfers without depending on a single nation’s currency, such as the U.S. dollar. Moreover, he suggested that XRP could be even more appealing to nations within BRICS that are dealing with less stable currencies.
Furthermore, Crypto Sensei reinforced his point by citing Ripple’s growing partnerships with prominent financial institutions worldwide, which he sees as evidence of XRP’s increasing traction in the settlement market.
Considering the multi-trillion-dollar challenge in the global settlement market, he suggested that this supports the audacious forecast that XRP could, at some point in the future, hit the $10,000 mark.
Bold Projection for Tokenization Market Supporting XRP $10K Outlook
Additionally, the industry commentator supported the case for a $10K XRP valuation by referencing its prospective role in the burgeoning tokenization sector. He drew attention to forecasts suggesting that the tokenization market could expand by 80-fold within the next five years.
In parallel, Crypto Sensei suggested that investments in cryptocurrencies that cater to this market could yield substantial returns for investors.
In an interview, Ripple’s CTO, David Schwartz, expressed optimism about the XRP Ledger’s role in tokenizing real-world assets. He cited its low fees and integration with DEXs as key advantages. Based on these factors, Schwartz predicted that XRPL will become a preferred platform for tokenization by 2025.
Meanwhile, Crypto Sensei has leveraged these bullish outlooks about XRP to underpin the ambitious $10K price target for XRP.
Why $10K XRP Maybe Wishful Thinking
As of press time, XRP is trading at $0.5265. For it to reach the proposed $10,000 mark, the asset would need to experience an astronomical growth of 1,899,235%, resulting in a market cap approaching $100 trillion.
Although Crypto Sensei is not alone in predicting XRP at $10,000, critics argue that the resulting market cap renders this forecast unrealistic, dismissing it as wishful thinking.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
