Jake Claver, Managing Director of Digital Ascension Group, has rejuvenated discussions around XRP reaching $10,000, and this time, adding an ambitious timeline.
In a tweet, he shared a video in which he explained the concept of XRP requiring a specific price point to efficiently move large amounts of money for institutions. Claver noted that on the XRP network, the higher the price of XRP, the more money it can move with a smaller amount of tokens.
To support this view, he cited a popular example given by Ripple CTO David Schwartz. Specifically, Schwartz famously stated that moving $1 million with XRP requires 1 million tokens, assuming a unit price of $1.
However, if XRP were at $10 per token, the network would need only 100,000 tokens to move $1 million. In a hypothetical scenario where 1 XRP is worth $1 million, just one token would be sufficient to transfer $1 million.
Essentially, Claver explained that the XRP network becomes significantly more efficient as the price increases.
XRP Is “Programmed” to Reach $10,000 per Coin
Given this reasoning, some XRP proponents speculate that the price is destined to rise far beyond its current level of around $2. Specifically, Claver argued that XRP is “programmed” to reach approximately $10,000 per coin.
To put this in perspective, XRP cannot currently move a single trillion-dollar transaction at its $2 price point with a market cap of $136 billion, as the existing liquidity in the system cannot support such large-scale transfers.
However, at a hypothetical price of $10,000 per coin, implying over $585 trillion in available liquidity, XRP could theoretically handle transactions of $1 trillion with ease.
Based on this logic, Claver argued that $10,000 per coin is the price point at which XRP starts to realize significant efficiencies. Interestingly, he went on to assert the ambitious belief that this price level could happen in about 24 months.
Claver’s statement presents a bold scenario in which XRP reaches $10,000 per coin “as programmed,” enabling greater financial efficiency by 2027.
Industry Pushback on the $10,000 XRP Claim
As expected, this bold claim has faced resistance from other market commentators, particularly due to the aggressive timeline.
The idea of XRP reaching $10,000 has long been a recurring theme within the XRP community. While many consider it unrealistic in the near term, some influential voices like Claver continue to promote the narrative.
A key point of contention is the market cap implication of such a price level, which would exceed $500 trillion. However, Claver has previously argued that market cap is irrelevant for XRP. Proponents of this view often claim that XRP doesn’t require trillion-dollar liquidity to reach such high valuations.
On the other hand, critics remain skeptical. As Alex Caraco, former CEO of an Australian stock market firm, puts it:
“It’s sad to see buyers sold the story of $10,000 XRP happening tomorrow.”
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.
