XRP has long been the subject of debate, with many investors speculating on its future price potential. As a cryptocurrency designed to facilitate cross-border payments, XRP has attracted attention for its possible utility in the financial sector. Yet, its price remains at a level many feel undervalues its real-world applications.
Amid discussions of XRP’s true value, there has been growing interest in what could happen if the asset captures a significant portion of the global financial market. Some point to Ripple’s sales of the digital asset as a factor, while others suggest institutional players might be driving prices down to shake out retail investors.
Some commentators also argue that its current price is being artificially suppressed. However, despite these concerns, there is a consensus that XRP could reach much higher valuations.
Projections of XRP’s Future Price
The Securities Industry and Financial Markets Association (SIFMA) reported that the global equity market reached a value of $140.7 trillion in 2023, reflecting the substantial size of the financial market. This represented a 5.9% increase from the previous year, highlighting the continued growth in market value.
As a digital asset built to integrate with and enhance global finance, capturing just 15% of this $140.7 trillion market would put $21.105 trillion under XRP’s control. At press time, the digital asset traded at $0.5668, with a market cap of $31.985 billion.
According to CoinMarketCap, XRP has a circulating supply of $56.38 billion, and a market cap of $21.105 trillion would put its price at an astonishing $374.29, almost 66,000% higher than the current price.
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Is A $374.29 Target For XRP Feasible?
Although this target might seem impossible, XRP’s growing adoption and Ripple’s increasing global partnerships could help the digital asset reach this price. Additionally, many analysts have shown how it can reach triple-digit prices above $300.
Dark Defender (@DefendDark), a prominent crypto analyst, recently affirmed how XRP can reach $333 by following an Elliott Wave pattern. Elliott Wave Theory predicts an asset’s trajectory through a five-wave structure with surges and corrections. The third wave is often the largest, and the analyst showed that XRP was about to begin this notable third wave.
JD (@jaydee_757), another prominent crypto analyst has predicted a surge of over 65,000%, sending the digital asset to $390 through a breakout from a multi-year symmetrical triangle. Many investors and community members maintain that the token’s price does not reflect its true value, and these analysts are confident that the triple-digit target is coming soon.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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