{"id":1641,"date":"2022-09-28T08:53:07","date_gmt":"2022-09-28T08:53:07","guid":{"rendered":"https:\/\/nftniches.com\/?p=1641"},"modified":"2022-09-28T08:53:07","modified_gmt":"2022-09-28T08:53:07","slug":"can-xrp-reach-10-or-100","status":"publish","type":"post","link":"https:\/\/nftniches.com\/can-xrp-reach-10-or-100\/","title":{"rendered":"Can XRP Reach $10 or $100: Could XRP 200x in Value"},"content":{"rendered":"\n
XRP is the cryptocurrency from Ripple, formerly known as Ripple Labs.<\/p>\n\n\n\n
It has been in the top 10 cryptocurrencies for over 18 months and the owners, Ripple, are continuing to develop and create a method to disrupt the bank-to-bank transfers industry with speed, security, and reduction of fees for users.<\/p>\n\n\n\n
With such a feasible goal, and interest from global banks, many have speculated that the value of XRP could increase to $10 or $100, or beyond.<\/p>\n\n\n\n
With an incredible amount of research, and analysis past and projected trends, we have looked in to how feasible such a growth would be for XRP, and what would be required for this milestone to be achieved.<\/p>\n\n\n\n
There are some incredible plus points to XRP and their owner, Ripple, views of payment transfers but there are some concerning negatives that need to be factored in.<\/p>\n\n\n\n
In this article we will look at what XRP is, how Ripple intend to achieve their goals and whether XRP could achieve a $10 or $100 a coin target.<\/p>\n\n\n\n
XRP<\/strong><\/a> is the token, or cryptocurrency, behind the company Ripple<\/strong><\/a>, which was formerly known as Ripple Labs \u2013 and before this known as OpenCoin and started out as RipplePay back in 2004.<\/p>\n\n\n\n Despite the continued name changes for the company behind Ripple, the XRP cryptocurrency came along as far back as 2012, which is a surprise to many.<\/p>\n\n\n\n Ripple has been working, for a while now, on a financial solution to speed up bank to bank transfers, whilst reducing fees to consumers.<\/p>\n\n\n\n Trading money between banks and countries has for decades been a slow and costly process. At times intermediary banks are used to transfer funds, particularly through the SWIFT network, which costs the sender or receiver even more.<\/p>\n\n\n\n A current transfer of funds between banks overseas takes 3 working days, but this can be a lot longer.<\/p>\n\n\n\n Ripple aims to solve that by making transfer almost instant and by being able to manage many more transactions per second than the SWIFT network.<\/p>\n\n\n\n The cryptocurrency created by Ripple, XRP, was intended to be used as a token that could be traded between banks for these fast transfers irradicating the need for currency exchanges.<\/p>\n\n\n\n If the banking systems not only adopt the Ripple network for money transfers, but also XRP to fulfill them, then the XRP token could incredibly valuable.<\/p>\n\n\n\n Now we understand what XRP is, it is important to understand what the market capital of XRP looks like and how we can use this to determine how possible it is for XRP to reach $10 or $100 a coin.<\/p>\n\n\n\n The current market capital of XRP is $22 billion<\/strong> (as at Autumn 2022).<\/p>\n\n\n\n This is in comparison to Bitcoin at $366 billion, Ethereum at $162 billion and Decentraland at $1.2 billion.<\/p>\n\n\n\n Although the current coin price is around $0.50, and Bitcoin at nearer $20,000 a coin, it looks as if XRP doesn\u2019t have far to go to get to a $10 or $100 price.<\/p>\n\n\n\n It would still make it considerably cheaper per coin than Bitcoin.<\/p>\n\n\n\n Unfortunately, this is not how the price of cryptocurrency works.<\/p>\n\n\n\n Market capital is a calculation of the current price multiplied by the number of coins in circulation.<\/mark><\/em><\/p>\n\n\n\n There are 49 billion XRP coins in circulation compared to just 19 million Bitcoin, and as there are so many XRP coins in the system it leads to a lower price.<\/p>\n\n\n\n This means to work out whether XRP can reach $10 or $100 we must look at what market capital needs to be achieved to get there, and how feasible this is.<\/p>\n\n\n\n Let\u2019s look at the higher amount first, and whether XRP can reach the heights of $100 a coin.<\/p>\n\n\n\n To reach a $100 per coin value, with 49 billion coins in circulation, XRP will need to have a market capital of $4.5 trillion and be worth 200 times more than it is now. Considering Bitcoin has a market capital of $366 billion, and Apple has a market capital of $2.4 trillion, this looks unlikely.<\/p>\n\n\n\n XRP would need to be double the value of Apple<\/mark> or twelve times the value of Bitcoin to achieve a $100 per coin value.<\/p>\n\n\n\n We will look at the pros and cons of both Ripple and XRP later in this article, but, in summary, unless the banks adopt XRP as the main cryptocurrency for all bank money trades it will be almost impossible to achieve this value.<\/p>\n\n\n\n If $100 a coin looks out of reach, what about $10 \u2013 could XRP reach $10 in the next 2-3 years.<\/p>\n\n\n\n To reach $10 per coin value, with 49 billion coins in circulation, XRP will need to have a market capital of $450 billion. This would create a worth more than Bitcoin at $366 billion and more than Meta (Facebook and Instagram) at $361 billion. It will be a challenge for XRP to reach $10.<\/p>\n\n\n\n Although this would prove a challenge and have a difficult path, it is at least possible.<\/p>\n\n\n\n Adoption by the banks would be required, but XRP would not necessarily need to be the main way of bank money transfers, it would simply have to be a sizeable part.<\/p>\n\n\n\n XRP is certainly known and established in the cryptocurrency space, and as mentioned earlier, it has been within the top 10 cryptocurrencies for 18 months now.<\/p>\n\n\n\n Stranger things have happened in the crypto space!<\/p>\n\n\n\nImportance of XRP Market Capital<\/strong><\/h2>\n\n\n\n
Can XRP Reach $100<\/strong><\/h2>\n\n\n\n
Can XRP Reach $10<\/strong><\/h2>\n\n\n\n
Benefits of Ripple and XRP<\/strong><\/h2>\n\n\n\n