XRP is still having a tough time breaking the $2.2 price ceiling. This private sector activity has sparked debates about its ability to meet high performance aspirational price points. Several bullish XRP predictions from market commentators see XRP reaching $100 in the long term. Projections show that it could even break into three digits. This article breaks down some of the conditions that might determine XRP’s future course to its lofty aims. It further looks at the continuing challenges XRP is up against and the implications for the cryptocurrency market at large.
Understanding XRP's Tokenomics
XRP’s total supply is permanently capped at 99 billion tokens. Per XRPScan data, 36.8 billion tokens remain locked in escrow thus far. This escrowed supply is at the heart of the question that continues to rage over XRP’s long-term price prospects.
Bitcoin’s current market cap completely controls the crypto space at 64.52%. The wider crypto market cap is now at $113.33 trillion. If XRP were to reach a $100 price, its fully diluted market cap would leap to $99 trillion. This would handily exceed gold’s $22 trillion market cap, making XRP the largest token on earth.
The $100 Target: Community Perspectives and Expert Opinions
Rietveld, a financial market enthusiast, is convinced about XRP. He boldly predicted that he is “100% sure” the price would increase to $100. Analyst BarriC made the somewhat ridiculous claim that market participants would gladly buy XRP for $100 worth of token in the future.
Not everyone shares this optimistic outlook. Ripple's CTO, David Schwartz, has argued that burning the escrowed XRP would not positively impact the token's price. This further underscores the confusion and conflicting views on attempts to manipulate XRP’s price.
Other community members have suggested other approaches, like donating the escrowed XRP tokens to the U.S. government. Another maneuver through which XRP could reach lofty price targets would be to burn Ripple’s escrow fortune.
Analyzing the Viability of Price Surge
Though these projections and community ideas provide possible avenues for XRP to achieve $100, there are serious challenges that lie ahead. To reach such a price wouldn’t just take a major change in market fundamentals—it would take an absolute revolution in investor confidence.
Most disturbingly, the massive market capitalization necessary for XRP to rise to $100 begs the question of whether a jump like this is even possible. As an aside, back in March VanEck predicted that Bitcoin might reach as much as $3 million by 2050 — but that’s not directly relevant to XRP.
