Crypto pundit XRP Avengers has declared that XRP can’t hit $1,000, a price level that has been discussed among community members. The pundit explained why he holds this belief, alluding to the altcoin’s market cap.
Why XRP Cannot Hit $1,000
In an X post, the crypto pundit said that XRP cannot hit $1,000 based on the market cap. He noted that if the altcoin were to hit $1,000, which is impossible, its market cap would be 100 trillion, which is like 10 times the global GDP. XRP Avengers added that $10 is the max price that the altcoin can reach and that it would take ages for that to happen and require banks to almost solely use it for transactions.
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In line with this, the crypto pundit revealed that he is simply waiting for XRP to hit between $5 and $10 before selling, as reaching $1,000 is “genuinely impossible.” Market expert Tony Severino also explained that XRP cannot reach this price target even by 2030. He noted that a rally to $1,000 would make the altcoin four times Gold’s market cap and 15 times Apple’s market cap, which he considers impossible.
Meanwhile, software engineer Vincent Van Code disputed XRP Avengers’ claim that the altcoin cannot reach $1,000. He stated that if holders purchased 99% of XRP for $1, for example, then the 1% being purchased for $1,000 each is indeed possible.
The software engineer added that it doesn’t mean that the altcoin’s total supply needs to be multiplied by $1,000, but only the relatively small number of tokens that were purchased for this amount. Vincent Van Code remarked that anything in the world, including XRP, can have any value, as all that matters is there being a market for it.
Analyst Doubles Down On $1,000 Prediction
Crypto analyst BarriC has doubled down on his prediction that XRP can hit $1,000 following XRP Avengers’ remarks. In an X post, he noted that the altcoin’s price action has only ever existed within the parameters of an altcoin season and the 4-year cycle. The analyst added that there is no historical data on what a utility run will look like for any crypto.
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Therefore, BarriC remarked that claims that XRP can never hit $1,000 are completely false. The analyst further claimed that it makes logical sense that the altcoin could reach this price level if every bank around the world adopts and utilizes it. When that happens, he expects trillions of dollars to flow directly into and through XRP.
At the time of writing, the XRP price is trading at around $2.98, down over 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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