Amid the ongoing market downturn, an XRP community figure has revealed what encourages him to continue buying XRP during the dip.
According to Digital Asset Investor (DAI), he only thinks about one thing while he embarks on his “buy-the-dip” campaign, citing an ambitious prediction for the broader crypto market from market veteran Raoul Pal. Notably, when compared to the current position of the market, Pal expects a massive growth over the next few years.
Raoul Pal’s Bold Prediction
For context, the Real Vision founder suggested in August that the growth of the crypto market seems to mirror the early adoption pace of the internet. He shared a graphic comparing the global crypto market cap and the scale of other markets such as debt ($300 trillion), global real estate ($400 trillion), global equities ($100 trillion), and M2 money supply ($80 trillion).
With the crypto market only holding $4 trillion in value when Pal made this disclosure, there seems to be much room for expansion. According to Pal, with the global crypto market following the trajectory of the internet’s adoption, it is poised to reach a massive $100 trillion valuation by 2035.
Interestingly, the market has since slumped below the $4 trillion mark amid the ongoing downturn, slipping to around $3.76 trillion at the time of DAI’s commentary. While this bearish position compared to Pal’s projection may discourage other investors, DAI insists it is the reason he has continued to buy more XRP.
DAI Reveals Reason He is Buying the XRP Dip
“This is all I think about while I buy the XRP dips,” he said. Notably, his statement suggests there is a firm belief that the global crypto market may soar to Raoul Pal’s target or reach a similar level in the coming years. If this happens, altcoins like XRP will benefit immensely, rewarding investors who bought at today’s low prices.
Currently, with the crypto market cap sitting at $3.86 trillion, XRP has a market dominance of 4.41%, holding a valuation of $169.93 billion. If XRP maintains this dominance while the market reaches the ambitious $100 trillion level, its price could soar to unimaginable heights.
Specifically, with a $100 trillion global crypto market cap, a 4.41% dominance would translate to a $4.41 trillion valuation for XRP. Supposing its circulating supply sits at around 80 billion, then the $4.41 trillion market cap would push prices to $55.13 per XRP. Notably, this represents an increase of 1,841% from the current XRP price of $2.95.
To put things into perspective, a $50,000 investment today would soar to nearly $1 million if this $55 price materializes. DAI sees this prospect as the major motivation to keep accumulating more tokens. Interestingly, market expert Ali Martinez confirmed that whales are also amassing more tokens amid the dip, having bought 120 million XRP in three days.
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.
