Can XRP Reach $10, $20, $50? (2024)

XRP is an excellent example of a practical use case for blockchain and crypto through Ripple. How does XRP look from an investment angle? Can XRP reach $10, $20, $50? Read on

Latest XRP News and Market Analysis

Market Analysis

• In the realm of XRP derivatives, recent data analysis reveals a notable shift. Long trade volume has experienced a decline of 10.53%, amounting to $785.69 million, while open interest has seen a 2.22% decrease, reaching $679.22 million. The options market has undergone a significant reduction in volume, plummeting by 46.56% to $584.98, although options open interest has simultaneously increased by 15.02%, totaling $290.99K.

News

• Ripple VP invited XRPL-focused developers to take part in the XRP Ledger DeFi hackathon. The event started on November 26th in Shibuya, Tokyo. Applications can be submitted to the organizers by Dec. 10, 2023. Successful products will be pitched during demo day on Dec. 12, 2023.
• Ripple’s partner FOMO Pay, a payment solutions provider has obtained a Money Service Operator (MSO) License in Hong Kong. The license will enable FOMO Pay to offer payment and remittance services within the region.

XRP, Buy or Sell?

Net Buy Rating = Buy% – Sell%

• July 1st:41.6%
• July 13th – Ripple SEC Court Decision
• September 1st:51.0%
• November 27th:+46.0%
• November 30th:+44.2%

📊 Survey Results: 58% of respondents are bullish on $XRP, foreseeing a potential surge to $10,000! 🚀 Optimism is in the air for Ripple enthusiasts!

XRP Price Prediction $10: Calculations

To reach $10, XRP will have to rise 16 times higher. At $10, XRP’s market cap will be $515 Billion. If XRP were to rise at the rate of 25% every year, it would take XRP around 13 years to reach $10. Considering all factors, is $10 Feasible?

• Quality of Investment: Moderate
• Growth required to reach $10: Moderately Feasible
• Market Cap at $10: Moderately Feasible
• Time required to reach $10 if XRP were to rise at 25% every year: Not Feasible

Overall, XRP is unlikely to reach $10. However, if 50% of the coins were to burn, the feasibility would improve substantially.

When Will XRP Reach $10?

XRP stands out from the Other Crypto Currencies as it offers something different and has grown at 19% annually since 2017. However, it has demonstrated the ability to grow rapidly, as shown in 2017, When Crypto soared by 500% in just one month.

The Major short-term Hurdle for Crypto would be its Resistance which Crypto formed in 2017. If it can breach Resistance next year; XRP has the potential to reach $10 in 2025. However, if XRP grows at the current rate, it will take 21 years to reach $10.

So can XRP Reach $10 in 2023?

XRP has pumped after the lawsuits but given the use case scenario for the Token, it is unlikely to pump 20x in 2023 alone. Ripple can still be a success (B2B focus) but unless there is widespread demand for XRP Tokens, it is unlikely to reach $10 anytime soon.

Can XRP reach $20? Calculations

In order for XRP to reach $20, it would need to increase by a factor of 25. At $20, XRP’s Market Cap will be $1.05 Trillion. If XRP were to grow at a rate of 25% each year, it would take about 7 years to reach $20. Let us evaluate this data

• Quality of Investment- Good (based on its past performance)
• Growth required to reach $20- Feasible (Example:Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 22000 times higher)
• Market Cap at $20- Not Feasible
• Time required to reach $20 if XRP were to rise at 25% per annum- Partially Feasible

Considering the criteria Quality of Investment, growth required and time required, XRP has a moderate to good chance of reaching $10. Let us analyze it further:

Is it possible for XRP to rise 25 times?

XRP needs to increase by a factor of 25 within a period of 8 years. When we look at the example of Bitcoin, BTC experienced a growth of 1400 times within a span of 10 years. Therefore, it would be considered quite significant for a coin to grow 25 times in the next 8 years.

Can we forecast accurately that a token will grow at a rate of 25% every year for the next 8 years?

No, a token cannot consistently grow at a specific price, and it is impossible to accurately predict its growth rate over the next 8 years. Therefore, it is not feasible to expect XRP to maintain a consistent growth rate of 25% over the next 8 to 9 years.

The future performance of a token is influenced by various factors and market conditions, making it uncertain and subject to fluctuations.

Can XRP reach $20? Conclusion:

To summarize:

• XRP has a useful purpose as a token.
• It is a promising investment option.
• It has the potential to achieve the necessary growth rate within the specified timeframe.
• However, reaching a market capitalization of $1.05 trillion is currently not achievable.

Considering all these factors, we can conclude that there are moderate chances of XRP reaching $20 within the specified time period. Nevertheless, it is possible for XRP to reach that level at some point in the future.

Can XRP reach $50?

Ripple Lab, the parent company of XRP, has been actively fighting a legal battle against the SEC for the past couple of years. This has now ended in Ripple’s favor pushing XRP Price 50% higher. Meanwhile, XRP developers are striving to establish themselves as leaders in the payment system. How will XRP prices play out in the next few years?

• 30% Growth for the Next 10 years (Conservative estimate benchmarking against Bitcoin and Ethereum)
• 15% growth for the Next 10 years (Typical Growth for a high-performing cryptocurrency)
• Assuming the above conditions, it will take XRP 20 years[2042] to reach $50
• IF XRP implements a burn or deflation program targeting 25% burn, the time frame could fall to 15 years.

At 100 dollars, XRP would have a market cap of $2.5 Trillion. This is 3x the current market cap of Tesla. However, when seen from a lens of 25 years, this isn’t a huge number. That said, any forecasts exceeding a few years are highly impractical. The global remittance market can support a player with a 5 Trillion market cap assuming a favorable regulatory environment and competitors not coming up with similar projects. Both of these are unrealistic. We believe, 50 dollars is a theoretical possibility but the odds of it becoming real are extremely low if not impossible.

Can XRP Reach $ 10? Detailed Analysis

Facts about XRP

• XRP is a cryptocurrency powered by the XRP Ledger, an open-source blockchain engineered by Jed McCaleb, Arthur Britto, and David Schwartz. Ripple was founded by McCaleb and Britto and uses XRP to facilitate transactions.
• At the heart of the Ripple ecosystem is XRP, the native token. RippleNet transactions are carried out through XRP. XRP is the asset used to settle instantaneous transactions between two or more individuals or banks
• It has been reported that Ripple intended to discontinue XRP’s use in the ecosystem but backtracked once interest in XRP as a cryptocurrency increased.

How is XRP Different from Others?

• Bitcoin is based on blockchain technology, whereas Ripple is based on a distributed consensus ledger using a network of validating servers and crypto tokens called XRP.
• In the Ripple Network, the XRP token represents the transfer of value. Unlike Bitcoin, where new coins are created to reward participants for computing power to maintain the blockchain network, Ripple created 100 billion XRP coins at its inception.
• XRP is also not designed to be mined, unlike Bitcoin. New Bitcoins are created as a reward for miners. A total of 100 billion XRP tokens were pre-mined, of which 38 billion were made available to the public. Ripple Lab periodically releases the remaining XRP tokens.

Explore our Other XRP Articles.

XRP Price Prediction 2023, 2025 and 2030

XRP Price Prediction $10,000, $30,000

Apps and Uses of XRP

• The XRP Ledger is being used by developers to create innovative products for gaming, content, and web monetization.
• The Ledger is used by crypto wallets to store private and public passwords and to interact with various blockchains to send and receive digital assets, including XRP.
• Defi: Access financial products and services online via decentralized smart contract protocols instead of traditional institutions.

DEX running on XRP are:

• onXRP
• Sologenic

Crypto Wallets Designed on XRP:

• Exodus Wallet.
• Abbra Wallet.
• Trust Wallet.

Will XRP Reach $1?

Read: Can XRP Reach $100 and $50?

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.