Diep Sanh, an XRP community pundit, has placed a sell order looking to exchange 1 XRP for $1,000, insisting that one day, someone will fill such an order.
This bold commentary came before XRP’s recent price struggles, which have pushed the token to four-month lows around the $2 level. Specifically, XRP, which changed hands at $3.1 as of Oct. 2, now trades for $2.32, representing a 25% crash within two weeks.
A Sell Order for XRP to $1,000
Notably, during Sanh’s disclosure, XRP still hovered around the $3 mark, which explains his optimism at the time. Specifically, the market commentator shared a screenshot in which he placed an order to sell 1 XRP for 1,000 USDC.
Diep Sanh placed the sell order as a symbol of his confidence that an XRP rally to $1,000 could someday materialize despite widespread skepticism surrounding this price target. “One day, someone will pay $1,000 for 1 XRP,” he boldly declared, emphasizing his belief that such a price point could be possible in the future.
Expectedly, this commentary faced some pushback from community figures, including Xaman’s Wietse Wind. Responding to Sanh’s suggestion that someone could fill such an order someday, Wind pointed out that, for such an event to occur, something would have to first clear out the entire order book and AMM.
For context, with XRP currently trading for just $2.32, the market will first attend to sell orders with values closer to this price before moving to higher prices. Meanwhile, even under $1,000, there could be orders at $3, $4, and other values. Wind suggests these orders would have to magically clear first before an order for $1,000 would fill.
The XRP to $1,000 Commentary
Wind insisted that this is likely not going to happen. According to him, the XRPL does not work like most centralized exchanges, like Binance, which match exact prices. Instead, the ledger first finds the best offers for a given price and moves to the next best after filling the initial one. This puts a long line between the current price and Sanh’s $1,000 value.
However, Sanh may have been referencing the distant future in his commentary. The market pundit has persistently argued that an XRP run to $1,000 is possible. Nonetheless, he believes it could materialize years later. For instance, he recently suggested that Ripple could be discussing how XRP could hit $1,000 by 2030. However, this was not grounded in reality.
Besides Sanh, other market commentators have also discussed the idea of XRP reaching the $1,000 mark, which would represent a 43,003% increase from the current price. Following Ripple’s recent acquisition of GTreasury, XFinanceBull suggested that the move could set the path for XRP to $1,000.
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