A notable crypto educator, “Common Sense Crypto,” outlines justifications for why XRP could pull a run that drives its value to triple-digit beyond $100.
In a recent post on X, Common Sense Crypto attempted to counter the view of XRP naysayers who disbelieve the popular view of XRP attaining $100 and above. Critics, even among the XRP Army, cite extraordinary market cap as a major factor for the disagreement.
However, the crypto educator highlighted the paths through which he believes such an ambitious target could be a reality.
Ways $100 Could Be a Reality for XRP
First, he cited Ripple CEO Brad Garlinghouse, who predicted a $5 trillion market cap for the crypto market earlier this year. Notably, the global crypto market is currently around $2.4 trillion. Meanwhile, Garlinghouse expressed that even a $5 trillion cap would be a conservative estimate for this bull market.
Common Sense Crypto is banking on Garlinghouse’s optimistic projection to draw inspiration on XRP’s potential value.
Furthermore, the crypto educator referenced Archax, the UK’s premier crypto exchange, which plans to process $50 trillion in tokenized value via XRP Ledger in the coming years. The ambitious plan emerged from its CEO Graham Rodford during Ripple’s Swell conference last year.
The crypto educator, though unsure how Archax intends to achieve the bold claim, noted that Archax is just one tokenization partner and expresses certainty that there are a few more. Essentially, he sees the development impacting the value of XRP, making a triple-digit price tag a realistic possibility for him.
It is worth noting that other industry pundits like Panos Mekras, the co-founder of Anodos Finance, have argued that Rodford’s view of XRPL processing $50 trillion in tokenized value is “complete nonsense,” stressing that it lacks reality.
I can guarantee you that is complete nonsense and I would stop following anyone saying such things or making any predictions. There is not even a tiny possibility of that happening. Also I have no idea what Archax is. Even if it did, a tokenized asset is a token issued on XRPL…
— Panos 🔼{X} (@panosmek) March 30, 2024
Common Sense Crypto also believes that the end of Ripple’s three-and-a-half-year lawsuit is another factor that could make the $100 XRP value a reality. He expressed that institutions would “begin to flood in to get ahead of the competition.”
Lastly, the crypto educator noted that the XRP public supply is shrinking rapidly, and demand for XRP may soon increase, impacting its price. Notably, per the latest record, 12,620,915.2 XRP has been burned from its 100 billion max supply.
XRP Hitting $100
The commentator highlighted that XRP needs a $5 to $10 trillion cap to attain the $100 XRP value. While acknowledging the ambitious feat required, he expressed he would rather not bet against what’s coming.
At press time, XRP costs $0.6032, with a 0.53% gain over the past day.
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.
