Nick, a widely followed researcher and founder of TheWeb3Alert, explains how XRP may witness a 100X that drives its value to $49.
Over the past few days, XRP has maintained a stable price below the psychological $0.50 threshold. After reaching an intraday high of $0.4949, XRP bottomed out at $0.48 before closing slightly above this level.
At press time, XRP hovers around $0.4869, reflecting a 1.88% increase over the past week. Meanwhile, the asset has lost over 8.7% in the past 30 days and a cumulative 5.5% decline over the past year.
Regardless of this unsavory performance, optimistic voices in the community remain confident about XRP’s prospect for up to 100X growth. Nick, the founder of TheWeb3Alert, recently echoed this sentiment in an analysis on X.
Can $XRP 100x??#XRP #Crypto #Cryptocurrency #Ripple #Altcoins pic.twitter.com/vOoctgXqfK
— Nick | Crypto Crusader (@NCashOfficial) June 20, 2024
How XRP May Attain 100X Growth
First, he threw open an inquiry concerning the feasibility of XRP achieving a 10,000% gain from its current price. In answering the question, Nick urged consideration of the vast sums of money in global markets, valued in the quadrillions of dollars.
He noted that some individual markets are worth up to $600 trillion. He cited a 2021 World Economic Forum statement suggesting blockchain could disrupt an $867 trillion market through tokenization.
Furthermore, Nick referenced a more recent study indicating that institutions are increasingly interested in tokenizing tangible assets on the blockchain.
Accordingly, he suggested that if large sums of money begin to flow on-chain and XRP handles just 1% of that volume, achieving trillion-dollar valuations like Apple, Microsoft, Nvidia, and Google could be feasible for XRP.
Based on this speculation, Nick noted that such trillion-dollar valuations would translate to a 100X increase from XRP’s current price.
Indeed, a 100X growth, or a 10,000% increase, would place XRP’s value at $49.18, with a market cap exceeding $4 trillion.
Essentially, considering the formidable journey to the $49.18 price point, Nick believes the tokenization market could smoothen the path for XRP. However, the view has not gone unopposed by critics.
Latest Effort Concerning Tokenization for XRP
Last week, Ripple announced the extension of its partnership with Archax, the foremost regulated crypto custodian in the U.K. The goal is to bring “hundreds of millions of dollars” in tokenized real-world assets (RWAs) to XRP’s blockchain by 2025.
In October 2023, Ripple’s CTO David Schwartz forecasted that the XRP Ledger would become the go-to platform for tokenization by 2025.
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.
