The XRP community is currently full of differing opinions in terms of price trajectory. While some are bullish in both the short and long term, others don’t expect XRP to do well in the short term. With the current range of price predictions, Zach Rector (@ZachRector7), a crypto expert, has presented his predictions and reasons.
Zach Rector expressed skepticism regarding XRP’s potential to reach $10,000. In his post on X, he argues that a currency reset and debt restructuring are essential prerequisites for XRP to break the $50 mark.
I don’t believe in $10,000 XRP because I believe we have a Currency Reset and Debt Restructuring before achieving such high prices.
They might have to reset everything before we even break $50…
The question would then be, how high will XRP go before we have a RESET?
— Zach Rector (@ZachRector7) September 14, 2023
Read Also: State-of-the-Art Machine Learning Algorithm Sets XRP Price for September 30, 2023
A currency reset is a deliberate change in the currency’s value. It can involve increasing (revaluation) or decreasing (devaluation) the currency’s worth relative to others, adjusting exchange rate pegs, or changing currency denominations.
Debt restructuring is done to alter the terms of existing debt and alleviate financial strain. Debt restructuring and a currency reset, in this case, can help to improve the long-term financial stability of a currency, and Zach believes these will be necessary for XRP to go higher.
Reactions From the Community
Rector’s sentiments have triggered a range of responses within the XRP community. Some agree that such drastic economic measures would be necessary for XRP to enjoy meteoric price surges.
A supposed XRP community member with X handle @MohFitX replied, saying $10,000 would be possible with the current disastrous inflation rate. MohFit stated that XRP would also have to become the global cross-border payment currency without competition, tokenization would happen, and 10-20% of the top 10 markets adopt XRP.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Jeremy Hogan to Ex-SEC Official: XRP Price is Influenced By The SEC, Not Ripple
However, MohFit acknowledges the unpredictability of factors like inflation rates and U.S. regulatory developments. He thereby gave XRP a 10% chance of reaching $10,000. He also agreed that Zach’s $50 prediction is more likely, giving it a 60% chance.
It’s worth noting that Zach pushed the idea of XRP at $10,000 on his YouTube channel in December 2021. He discussed XRP’s design and potential to handle trillions of dollars in daily transactions and hundreds of trillions per year. He proposed scenarios where XRP could reach 4, 5, or even 6-digit values over the next decade.
Another crypto analyst also recently predicted that XRP could reach $10,000 based on its role as a CBDC.
With the large number of predictions, the future of XRP remains uncertain. However, most predictions are favorable and only time will tell whether these predictions will come to fruition.
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