Ripple The possibilities of how high its price could rise have triggered heated discussions among members of the crypto community this past week. One particular prediction has Ripple pushing the price of the cryptocurrency as high as $10,000 as it advances in the payments industry. However, the validity of this prediction is still heavily debated, leading crypto analysts to weigh in on whether this price point is possible.
Analyst Explains Why $10,000 Is Not Possible
One of the analysts who weighed in on the discussions of increasing the price of XRP to $ 10,000 is Zach Rector. altcoinAfter predictions began circulating that XRP could rise to this level, Rector came forward to explain why he did not believe the price of XRP could rise this much.
Made via X (formerly Twitter) in sharing Rector points to currency resets and debt restructuring as the reason behind his belief. According to him, both Currency Reset and Debt Restructuring will need to happen before the altcoin can make such a rally.
Explaining further, Rector said: cryptocurrency He points out that both of these happened before the unit even rose to the much lower price point of $50. Therefore, instead of making such price predictions, the question that should be asked is “How high will XRP rise before we experience a RESET?” believes it is.
Another X user also responded to Rector’s tweet, saying that it was possible for the XRP price to reach $10,000. However, they believe this will only happen if current high inflation rates are maintained. In a follow-up tweet, the user gives XRP a 5% chance of reaching $10,000.
“$10,000 is possible but that means we are maintaining this catastrophic inflation rate, XRP has become the preferred cross-border payment currency worldwide without competition and Tokenization is happening and one of the top 10 markets worldwide is at least 10-20%,” he tweeted. It assumes that people are using XRP.” expressions are included.
Why There Was a Sudden Rise in Ripple Price?
Indicators and investors were bullish on the XRP price for the first time following Ripple’s victory against the United States Securities and Exchange Commission (SEC) in July. The XRP price rose over 60% in the days following the decision as interest bubbled.
The token’s rally has since slowed, erasing most of its gains from the decision. However, crypto analysts remain bullish. While one analyst sets the XRP price at $130, another analyst thinks it can go up to $500.
XRP’s almost consistent trading volumes above $1 billion also show that investors are heavily involved in the coin.
