1️⃣ Despite the current struggles with XRP's price, there are predictions of a potential rally to three digits, raising questions about what could trigger this surge. Currently, while Bitcoin (BTC) has experienced a significant increase of 11. 52%, reaching $95K,
2️⃣ XRP has only risen by 5. 34% and remains stuck around $2. 2, failing to overcome resistance at this level. Analysts are still optimistic about XRP's future, highlighting its strong utility.
Predictions for XRP's price vary, with some analysts suggesting more realistic
3️⃣ near-term targets like $10 and $27. However, others think that a long-term goal of $100 could be achievable. Some market watchers express confidence in XRP reaching this price, but concerns arise over the market cap implications. With a total supply of 99 billion tokens,
4️⃣ if XRP reaches $100, its market cap would be a staggering $99 trillion, surpassing both Bitcoin and gold, which raises doubts about this price target.
One potential way to support such a price increase could be through token burns, specifically by reducing Ripple's
5️⃣ escrow stash of 36. 8 billion tokens. However, Ripple's CTO has warned against this approach due to its questionable impact on price. Additionally, some suggest donating escrowed tokens to the U. S. government, but the outcome for XRP’s price remains uncertain.
6️⃣ Even with token burns, the remaining 63 billion tokens would still hinder a rally to $100, leading to a market cap of $6. 3 trillion. This market cap could only become realistic if the overall cryptocurrency market significantly expands. For instance, if XRP’s market cap
7️⃣ dominance increases, it could contribute to a larger total crypto market value, impacting Bitcoin's market cap and price predictions.
