A well-known cryptocurrency analyst explains why a price of $1,000 per XRP is seen as a conservative prediction.
JackTheRippler, a prominent cryptocurrency expert, recently presented a convincing perspective on XRP’s potential worth, claiming that $1,000 a unit is just the beginning point. In a tweet today, JackTheRippler ridiculed the notion of XRP being worth $1,000 as trivial.
According to one leading cryptocurrency analyst, XRP is neither a stock nor a share, but rather a utility protocol designed to tokenize value across several markets, including commodities and derivatives.
Read Also: Top Analyst Spots XRP Rising Potential, Predicts 3,100% Rocket Surge. Here’s the Timeline
In addition, JackTheRippler stated that assets worth more than $1.2 quadrillion dispersed throughout different marketplaces must be tokenized.
As a result, JackTheRippler believes that if XRP can acquire just 10% of one of these areas, such as the derivatives market, its worth might skyrocket to $50 trillion. Furthermore, other key markets including housing, debt, and commodities are worth at least $1.2 quadrillion, suggesting additional chances for XRP to gain a considerable stake.
Based on this study, JackTheRippler believes that the perceived worth of XRP at $1,000 per unit is nothing more than peanuts when compared to its potential.
XRP is NOT a share/stock. It is a Utility protocol to tokenized value. There are over $1.2 Quadrillion to be tokenized. The Derivatives market is $500 Trillion alone!
XRP to capture just 10% of one market is already at $50T. There is also the housing market, the
shares market,… pic.twitter.com/m9HKTpNzLM— JackTheRippler ©️ (@RippleXrpie) July 4, 2023
Reaction from the XRP Community
JackTheRippler’s analysis has sparked a lot of interest in the XRP community. Fans are ecstatic that a respected analyst like JackTheRippler is considering the prospect of XRP hitting $1,000 in the future. Some members, however, see this study as a hopeful prognosis that requires favorable circumstances to materialize.
amen
— pecinta_kripto (@inv_kripto) July 4, 2023
From your lips to Gods ears.
— Ben (@BenMarkus1973) July 4, 2023
Read Also: Required Amount of XRP to Attain Millionaire Status at $5, $10, and $50 Price Levels
XRP’s Current Performance
In recent days, the price of XRP has fluctuated between $0.48 and $0.49. XRP is currently trading at $0.486, representing a 1.1% rise in the last 24 hours.
According to CoinGecko data, XRP has gained 0.7% and 0.9% in the last 7 and 14 days, respectively. Furthermore, XRP has a market capitalization of $25.4 billion.
The Impact of the SEC vs. Ripple Lawsuit on XRP Price
The ongoing SEC-Ripple case has had a substantial impact on the price performance of XRP. Despite the fact that summary judgment briefs have been submitted for six months, the judge has yet to render a decision.
The upcoming verdict has significant consequences for XRP. A favorable judgment for Ripple could result in a significant increase in the price of XRP. A judgment in favor of the SEC, on the other hand, has the potential to drop the XRP price below its present level, putting negative pressure on the cryptocurrency.
Interestingly, attorney John Deaton and the community expect Judge Analisa Torres to examine XRP secondary market sales during the next summary judgment, adding to the suspense surrounding the lawsuit’s result.
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