Tristan Tate, a media personality with 3.3 million followers on X, has sparked a conversation about the potential for XRP to reach $100.
On Tuesday, he took to X to ask the crypto community to explain the hype surrounding XRP. Specifically, he sought clarification on why XRP could possibly rise to hundreds of dollars per coin.
The inquiry quickly gained traction, accumulating over 3 million views. Notably, many from the XRP community offered insights into XRP’s potential and the reasons behind the buzz.
Foundations for XRP Hype and Why $100 is an Outlook
Among the prominent voices responding was Panos Mekras, a crypto author and co-founder of Anodos Finance. According to Mekras, XRP is worth the hype due to its underlying blockchain, the XRP Ledger, which he refers to as “the OG DeFi chain.”
Mekras argued that XRPL is the first non-PoW blockchain network, offering faster, cheaper, and more scalable solutions. Moreover, he noted that XRPL offered the first-ever global decentralized exchange.
Furthermore, Mekras told Tate that the XRP Ledger was explicitly created to disintermediate banks. He emphasized that it serves as a better alternative to Bitcoin, lacking mining and validation incentives, while offering faster, cheaper, and more decentralized money.
Additionally, Mekras pointed out that XRPL is more advanced, featuring the first DEX, tokenization capabilities, and payment functionalities.
Meanwhile, Abdullah Nassif, known as Abs in the community, remarked that XRP “makes money move for the banks as quickly and easily as data moves on the internet today.”
Similarly, crypto educator Edo Farina argued that XRP is 1,000 to 1,500 times more cost-effective, faster, and scalable than Bitcoin. He claims that XRP aligns more closely with Satoshi Nakamoto’s vision of a functional digital currency.
According to him, Bitcoin has become increasingly “centralized” due to concentrated mining pools. Farina even went as far as to describe Bitcoin as the beta test coin, while XRP is the “Final Product.”
Meanwhile, other prominent voices in the XRP community, such as XRPL validator Vet, extended a podcast invitation to Tate to further discuss XRP.
Critics Dismiss $100 Outlook as Unrealistic
Amid the discussion, X user “Mr. Random” pointed out an often-overlooked factor in the popular projections of a triple-digit price for XRP. He noted that for XRP to hit $100, its market cap would exceed $5 trillion, or $10 trillion, when accounting for escrow tokens.
Mr. Random stressed that this would surpass the market cap of many major world economies, making it highly unlikely given the current economic landscape. He further added that for XRP to reach $10,000, its market cap would need to hit a staggering $500 trillion.
Meanwhile, XRP proponents continue to argue that market cap implications are irrelevant “in the broader scheme of things.”
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.
