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XRP in the unpredictable realm of cryptocurrency often sees bold predictions. Recently, a post by renowned crypto educator Common Sense Crypto has garnered significant attention. He addressed the skeptics, even within the crypto community, who question the token’s ability to hit triple digits.
First, he cited Ripple CEO Brad Garlinghouse. Earlier this year, Garlinghouse forecasted a $5 trillion market cap for the crypto sector. Today, the global crypto market hovers around $2.4 trillion. Garlinghouse believes $5 trillion is a conservative estimate for this bull market.
Common Sense Crypto draws on Garlinghouse’s optimism to envision XRP’s potential.
Additionally, he highlighted Archax, the UK’s leading crypto exchange, which plans to handle $50 trillion in tokenized value through the XRP Ledger. This ambitious plan, unveiled by CEO Graham Rodford at Ripple’s Swell conference, underscores the token’s future potential.
While skeptics, including Panos Mekras, co-founder of Anodos Finance, dismiss Rodford’s projection as unrealistic, Common Sense Crypto remains confident. He points out that Archax is only one of several tokenization partners, suggesting more support for the token’s rise.
Another critical factor is the conclusion of Ripple’s protracted legal battle. Common Sense Crypto believes that the resolution will attract institutional investors eager to gain a competitive edge.
Moreover, the shrinking supply of the token adds another layer to his bullish outlook. To date, 12,620,915.2 XRP has been burned from its initial 100 billion max supply. As supply diminishes, demand could drive up the price.
The Road Ahead for XRP
For XRP to hit $100, it would need a market cap between $5 and $10 trillion. While acknowledging this as a formidable target, Common Sense Crypto remains optimistic. He urges caution but would rather not bet against the token’s potential.
As of now, the token is priced at $0.6032, with a 0.53% gain in the past day. While the journey to $100 may seem steep, Common Sense Crypto’s analysis provides a hopeful perspective for XRP enthusiasts.
