A cryptocurrency specialist has responded to claims that XRP will never reach $10,000. He pointed out that XRP belongs to a unique category of cryptocurrencies, which renders conventional valuation methods less applicable. The expert also maintains that XRP is purpose-built to facilitate large-scale institutional transactions, implying that a $10,000 valuation isn’t completely out of the question for the future.
Reasons XRP Could Hit $10,000
Stern Drew, the CEO and founder of Stageyo, the world’s first digital marketplace for stage performers, has contributed to the ongoing discussion surrounding the potential future price of XRP. On X, he contended that many estimates that negate a $10,000 XRP price are flawed as they utilize inappropriate frameworks and mathematical models for this asset.
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According to Drew, XRP should not be evaluated under the same criteria as retail-focused cryptocurrencies. He explained that comparisons with Bitcoin and other digital assets often overlook the scale involved. A single partner of Ripple can transfer more value in one day than Bitcoin handles in an entire year. This variance in settlement volume is crucial for assessing XRP’s future value, according to the expert.
The founder of Stageyo further emphasized that XRP was primarily created for institutional settlements instead of speculative trading. Its fundamental use case is focused on efficiently moving large capital across borders. In this context, Drew suggested that price forecasts dismissing levels like $10,000 based on retail demand or past cryptocurrency cycles are not pertinent.
He claimed that low prices are illogical when a cryptocurrency is managing substantial institutional inflows. If XRP is utilized for high-value settlements, a higher token price improves efficiency. This results in requiring fewer tokens to transfer the same amount of value, thus minimizing friction and accelerating transactions.
Drew characterized this concept as a different type of calculation that pertains to a “different league” of financial operations. Instead of concentrating on market capitalization to assess a cryptocurrency’s future worth, the expert highlights liquidity and transaction throughput. From this viewpoint, he associates the potential for XRP to reach $10,000 with its role within the global financial ecosystem.
XRP’s Strategic Position in Global Banking
In another post on X, Drew highlighted a recent announcement by the Bank of Japan (BOJ). Notably, the BOJ revealed that both Japan and South Korea are collaborating on developing blockchain infrastructure, subtly referencing XRP and Ripple in this statement.
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Reports indicate that the official discussions are currently confidential, but their outcomes are anticipated to be significant. The BOJ warned that XRP holders should stay alert and prepare for upcoming changes, as this partnership may represent a transformative moment for Ripple.
It’s worth mentioning that the crypto payments firm has already formed connections with some of Japan’s largest financial organizations, including SBI Holdings. Furthermore, South Korea has been a significant investor in XRP over the years.
Featured image from iStock, chart from Tradingview.com
