Analyst Projects Ripple (XRP) Could Reach $100: Heres Why
- Analyst Levi Rietveld projects XRP could reach $100 based on Michael Saylors $13 million Bitcoin forecast.
- Saylor predicts Bitcoin will account for 7% of the worlds capital in 21 years.
- XRPs potential $100 valuation assumes proportional growth with Bitcoins projected 20,300% increase.
Cryptocurrency analyst Levi Rietveld has sparked intrigue in the digital asset community with his bold projection for XRP, drawing parallels with MicroStrategy chairman Michael Saylors ambitious forecast for Bitcoin.
Rietvelds analysis suggests that XRP could potentially reach $100, aligning its future with Saylors vision of Bitcoins dominance in the coming decades.
Saylors recent CNBC interview sent shockwaves through the crypto world as he outlined a scenario where Bitcoin could reach $13 million per token.
His prediction is based on the premise that Bitcoin will grow to represent 7% of global capital, citing its unique position as a non-sovereign, global asset free from government-related risks.
Extrapolating from Saylors Bitcoin projection, Rietveld posits that XRP could experience a corresponding surge. He argues that XRPs role in providing liquidity and addressing market gaps not covered by Bitcoin positions it as a crucial asset in the broader cryptocurrency ecosystem.
XRP has a long way for $100
Currently trading around $0.580, XRP would need to experience a monumental increase to reach the $100 mark. Rietvelds calculation assumes that if Bitcoin achieves its projected 20,300% growth to $13 million, XRP could potentially mirror this percentage increase, placing its value at approximately $118.
This projection is based on several assumptions, including Bitcoin maintaining its dominant market share and the entire cryptocurrency market expanding to over $546 trillion.
While Saylors timeline for Bitcoins growth extends to 2045, some XRP proponents believe the altcoin could reach $100 much sooner, possibly as early as next year.
Its important to note that these projections are speculative and based on long-term forecasts.
Read more: https://thenewscrypto.com/analyst-projects-ripple-xrp-could-reach-100-heres-why/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
