XRP community pundits speculate that the XRP price could clinch $1 million if a drop of XRP ever equals the value of 1 RLUSD, the upcoming Ripple stablecoin.
These speculations emerged on the back of an attempt at satire by Vet, an outspoken dUNL validator on the XRP Ledger (XRPL). With Ripple confirming that the RLUSD stablecoin is only weeks from launching, Vet recently took to social media to humorously suggest that its value equaling $1 would be a “big” development.
Being pegged to the dollar, the RLUSD is expected to be worth $1 at all times. Vet’s sarcastic commentary was a satire depicting the manner in which some influencers in the community discuss ordinary developments with tags as explosive news.
XRP’s 1 Million Drops
Interestingly, Crypto Tank, an XRP community member and self-acclaimed researcher, jumped on this commentary to propagate theories of a possible XRP price surge. Notably, XRP as a token is divided into smaller units called “drops,” much like Bitcoin has satoshis.
1 xrp has 1 million drops. Once XRP rises in price the drops will come into play in a big way. So if 1 RLUSD=$1 dollar, and 1 RLUSD is paired to 1 XRP drop in the future, then 1 XRP would = $1 million dollars. David was asked this but kinda dodged the question. It's 100% possible
— CryptoTank (@Tank2033js) September 21, 2024
Each XRP token consists of 1 million drops. Before now, some areas of the XRP Ledger calculated XRP fees in units. However, an amendment from last year completely changed this fee structure to drops, essentially allowing all areas of fees to be calculated in drops of XRP, for easier calculations.
Besides calculating the fee structure on the XRPL, the XRP drop units rarely make it to everyday discussions. This is largely due to XRP’s low price, which remains below $1, as XRP currently trades for $0.5857. For context, the last time XRP saw the $1 mark was in November 2021.
Crypto Tank believes when XRP price reaches greater heights, possibly surpassing $1, market participants would see a need to start calculating XRP in units of drops.
1 XRP Drop Equaling 1 RLUSD
He then speculated that if, in the future, one drop of XRP equals the value of 1 RLUSD, then that would translate to an XRP price of $1 million, seeing as there are 1 million drops in 1 XRP. While Crypto Tank suggested that this is “100% possible,” the speculation remains audacious.
In a subsequent comment, the community figure doubled down on his speculation. He agreed that RLUSD will always be $1, but argued that XRP’s price could be much higher in the future. According to him, when XRP price becomes too high, most market participants will resort to moving drops instead of one whole XRP.
It bears mentioning that XRP Healthcare’s Head of Social Adoption, Edward Farina, made similar assertions back in March. However, Farina never projected a possible $1 million price for XRP. Instead, the Alpha Lions Academy CEO suggested that XRP could become so unaffordable in the future that traders would have to resort to moving it in drops.
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.
