With strong predictions and major endorsements, XRP is attracting new interest. Renowned crypto educator Common Sense Crypto recently highlighted the token’s ability to reach triple digits, despite some doubts from some quarters.
Related Reading
This positive outlook is largely based on Ripple CEO Brad Garlinghouse’s ambitious projection for the larger crypto industry. Garlinghouse projected a $5 trillion market valuation for the crypto industry earlier this year — a figure far beyond the current $2.4 trillion market cap.
Garlinghouse argues that in a strong bull market this estimate is not only realistic, but also cautious. Echoing Garlinghouse’s conviction, Common Sense Crypto sees XRP as the main candidate for a significant price increase.
For all the pessimists who don’t think $ xrp can generate a 3-digit run, let’s look at some ways this can happen:
1. Brad Garlinghouse expects $5 trillion to flow into this space by the end of 2024 and said that is conservative.
2. Archax plans to raise between $30 and $50 trillion in… pic.twitter.com/Lwi9cHYirY
– Common Sense Cryptography (@TheCSCrypto) July 23, 2024
Institutional Interest
Archax, a well-known UK-based bitcoin exchange with big ideas for the XRP Ledger, is fueling the positive story. CEO Graham Rodford recently unveiled a bold plan to use the XRP blockchain to oversee $50 trillion in tokenized assets. Delivered during Ripple’s Swell conference, the narrative underscores XRP’s transformative power in the financial sector.
Common Sense Crypto said Archax is just one of numerous partners helping XRP’s upward trajectory to be seen. Attracting institutional investors eager to cash in on the token’s potential fundamentally depends on the outcome of Ripple’s protracted legal fight.
Ripple’s lawsuit is crucial to XRP’s institutional investor appeal. The legal proceedings have defined the regulatory landscape for cryptocurrencies, specifically the security status of XRP.
A key ruling said that sales of XRP to institutional investors are securities while sales on public exchanges are not, allowing individual investors to trade more freely without extensive regulatory compliance.
XRP Price Projections and Supply Dynamics
![Debunking Doubts: How XRP Could Achieve a 3-Digit Surge – Analyst 2 a f9a5ed](https://thegurumedia.com/wp-content/uploads/2024/07/a_f9a5ed.png)
XRP, which is currently trading at $0.62, is little changed from the previous day – 0.53%. Short-term projections show significant volatility; the token is expected to trade 20.12% below the expected price during the next month.
Related Reading
The medium-term picture is bright; a predicted 16.34% increase in the next three months and a staggering 170% expansion expected within six months, CoinCheckup data shows. Looking ahead, a one-year estimate shows a possible 98% increase, which means strong long-term development prospects.
XRP would need a market cap of between $5 and $10 trillion if it were to reach the elusive $100 billion mark — an ambitious target that acknowledges the token’s ongoing challenges. The analyst is cautiously hopeful despite these hurdles, prompting investors to assess the token’s potential while also staying on top of the related risks.
Featured image from The Motley Fool, chart from TradingView