Can Ripple (XRP) Reach $100 This Cycle? BTC Proponent Calls It Impossible
TL;DRâXRP is a DistractionâRippleâs XRP has been flying high in the past week. Its price jumped from $2.30 (on January 10) to almost $3.40 on January 16. Thus, the assetstoodjust 1% away from its all-time high registered at the start of 2018. Currently, XRP is worth approximately $3.31 (per CoinGeckoâs data), representing a staggering 43% increase on a seven-day scale.Key drivers behind the significant rally include increased whale activity, excitement over political shifts in the USA, rising network adoption, and others. For more insights, further details are available here.The massive resurgence has given analysts the opportunity to speculate that the coinâs price may pump to unseen and even ridiculous levels. The popular X user EDO FARINA, for instance, said he would not sell his XRP holdings before the valuation reaches $100.On the other hand, the Bitcoin proponent Rajat Soni claimed that such optimistic predictions come only from people with âundiagnosed mental disability.â The finance expert explained that XRPâs potential price explosion to $100 would require its market capitalization to skyrocket to $10 trillion.Soniâs calculations are based on the total supply of XRP, which is almost 100 billion tokens. Multiplying the $100 price to the circulating supply of 57.5 billion coins will mean that the assetâs capitalization needs to soar above $5.5 trillion, which is still quite unrealistic (to say the least).To put things into perspective, the entire market cap of the crypto industry is less than $4 trillion (as of press time).In addition, Soni said even bigger optimists suggest that XRPâs valuation could reach the astonishing $1,000 per coin.âXRP is a distraction. Stick to Bitcoin,â he concluded.Some Realistic ForecastsWhile $100 per coin might indeed seem like an outrageous target, many analysts have recently set somewhat optimal predictions (considering XRPâs bull run).One example is the X user CRYPTOWZRD, who believes the asset could be poised for a short-term rise to a new all-time high of $4 and then an increase to $8.Dark Defender also weighed in, envisioning a rally toward $3.6239 and $4.5503. âXRP has some work to do, but we will get there soon,â the analyst added.