Several influential voices within the XRP community are optimistic about the cryptocurrency’s potential to reach the $100 price mark. Notably, former Ripple developer Matt Hamilton expressed his unwavering belief in XRP’s capability to hit this ambitious target, citing no apparent reason why it couldn’t achieve such a milestone.
Steven Nerayoff, a former Ethereum advisor, echoed Hamilton’s viewpoint, contributing momentum to the increasing belief in XRP’s upward path. The most recent supporter of this optimistic prediction is the host of the 24HrsCrypto media platform, who presented a persuasive argument, fortifying the storyline favoring XRP’s rise.
The driving force behind this optimism lies in Bitcoin’s remarkable journey through time. Illustrating this, the analyst shared a CoinMarketCap chart showcasing Bitcoin’s price trajectory 13 years ago. It vividly depicted Bitcoin’s humble beginnings, exchanging hands at a mere $0.0602 with a trading volume of $11,538 on September 22, 2010.
Highlighting Bitcoin’s meteoric rise, the chart unveiled an astonishing all-time appreciation rate of 58,925,325%. Drawing parallels, the 24HrsCrypto host pointed to this historical context as the basis for coin potential to mirror similar exponential gains, envisioning a $100 valuation for the digital asset.
Source: CoinMarketCap
XRP Ledger Efficiency Shines Amid Bitcoin’s Fluctuating Fees
To bolster the argument, the market analyst contrasted Bitcoin’s technology with the notably more efficient XRP Ledger. Highlighting Bitcoin’s variable fees, which can rise anywhere from $10 to $35, the analyst underscored the stable nature of the coin’s average transaction cost, which is maintained at $0.0002.
Furthermore, he underscored the time disparity in transaction speeds, with Bitcoin transactions potentially taking over 48 hours, contrasting sharply with XRP’s swift completion window of two to eight seconds.
Highlighting environmental concerns, the analyst pointed out Bitcoin’s substantial carbon footprint due to mining activities, positioning XRP as one of the most eco-friendly options. Drawing parallels to Bitcoin’s staggering ascent, he envisioned XRP’s potential to soar from $0.60 to $100, leveraging its perceived advantages.
Nevertheless, a cautious tone prevailed as the analyst refrained from offering financial advice, acknowledging the unpredictable nature of the crypto market. Critics pointed to the disparity in supply as a potential impediment to the Ripple token replicating Bitcoin’s unprecedented surge, emphasizing the unique challenges each cryptocurrency faces in reaching its pinnacle.
As the XRP community remains optimistic, the $100 price speculation remains speculative. Yet, the echoes of Bitcoin’s past serve as a beacon of hope for enthusiasts, inspiring belief in the potential for remarkable ascension in the crypto sphere.