Discussions around the XRP value have grown louder as crypto community figures argue over whether the token deserves a much higher price. Notably, multiple XRP proponents insist that XRP trades far below its real value at the current price of around $2. For context, XRP currently trades for $2.19, up 3% in the past week. However, some XRP pundits have suggested that the token has the potential to reach $100 or even $1,000 in the near future.
Despite the confidence with which these proponents make these projections, critics have persistently pushed back, often highlighting XRP’s extensive supply of 60 billion tokens, saying the resulting market cap makes those predictions unrealistic.
Pundit Discussions on XRP's Potential Price Movements
Nonetheless, XRP proponents have dismissed these concerns. Most recently, investor Jake Molter reminded the community that other major assets once made huge jumps in short periods. He noted that Ethereum rose from $9 to $361 in 6 months, and Solana jumped from $2 to $187 in 9 months. Molter argued that people should not dismiss the idea that XRP could see a similar run.
Market data shows Molter’s claims were largely correct. For context, ETH traded for around $8 in January 2017 but soared 5075% to $414 by June 2017. In addition, SOL, which changed hands for $1.51 in January 2021, rallied to $216 in September 2021. This marked a 14,204% increase within 9 months. Molter believes XRP could see similar rallies.
However, in response, another participant suggested that the earlier rallies happened under very different conditions because market caps were much smaller back then. Molter agreed with this point but said the market has changed in important ways.
He explained that retail traders drove most of the old rallies with little support from institutions. However, today, institutions buy into the market in large numbers, which changes everything. He also pointed out that market caps grow over time as assets mature and insisted that people should not expect today’s market caps to look the same in the future.
Comparing XRP and Solana Valuations
Meanwhile, former CoinRoutes Chairman and Bitcoin advocate Dave Weisberger countered Molter’s point. He said XRP at $2 already holds a higher value than Solana at $200, suggesting that it would take XRP much more capital to soar further from the $2 level.
“XRP at $2 is worth MORE than Sol at $200.”
This is largely accurate due to XRP’s larger circulating supply. Notably, with XRP boasting a circulating supply of 60.25 billion tokens, XRP is worth $120 billion at $2. Meanwhile, with SOL having a supply of 559 million tokens, a price of $200 means Solana has a worth of $111.8 billion.
Importantly, Weisberger stressed that a jump from $100 billion to $10 trillion demands far more than a move from $1 billion to $100 billion. According to him, members of the XRP community often focus too much on the token’s price per unit rather than the full value of the asset.
While Weisberger has admitted that he wants XRP to do well, he continues to challenge the more extreme predictions surrounding it. Last week, he addressed another claim from an analyst who argued that a collapse of global fiat currencies could trigger a major XRP price spike.
Weisberger disagreed and said that even if fiat currencies completely collapsed, which he believes will not happen anytime soon, XRP would not benefit. He argued that XRP does best in a world where fiat currencies stay strong, so the XRPL can help improve foreign-exchange activity between them.