XRP price could soar to $29.32!
Cryptocurrency index fund manager Bitwise estimates that by the end of this century, the price of XRP tokens, linked to Ripple, could soar to $29.32.
To achieve this, the cryptocurrency needs to capture a 'meaningful' share in the payment and tokenization sectors.
Bitwise's price prediction is based on the Capital Asset Pricing Model (CAPM). The company estimates that even capturing a small portion of the real-world asset tokenization market could significantly impact the cryptocurrency's market value.
In Bitwise's 'maximum scenario', by the end of this century, XRP's market cap would grow to $2.9 trillion, surpassing the current market cap of tech giant Microsoft ($2.89 trillion).
According to Bitwise's 'bull market scenario', by 2030, the price of the token will reach $12.7. To achieve this prediction, XRP needs to maintain stable network growth and minimize headwinds.
However, in this scenario, the token will not gain significant appeal in payments and tokenization.
If XRP fails to capture any target market share amid declining institutional adoption and XRPL usage, by 2030, the token's price could ultimately fall to just $0.13.
This is Bitwise's 'bear market scenario'.
According to U.Today, Ripple has dropped its appeal against the SEC, which means this protracted legal battle is (almost certainly) over.
However, XRP failed to rise on the news. After Ripple announced the SEC dropped its appeal, the token experienced only a very slight uptick.
Nonetheless, the approval of an XRP ETF in the U.S. seems inevitable, which could revitalize the token's momentum.
Bitwise applied for an XRP ETF as early as October.
According to U.Today, analyst Nate Geraci recently predicted that BlackRock and Fidelity would also join the ETF race.
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