Can Ripple (XRP) Reach $1 Trillion This Time?

Résumé :

• Ripple’s token for cross-border transactions has had a good month in the cryptocurrency market, but can it still reach new highs?
• ChatGPT and Perplexity analyze what is needed to see its market capitalization climb to $1 trillion.

XRP at $1 trillion?

Let us recall the price movements of following the announcement of the imminent departure of current SEC Chairman Gary Gensler.

At one point, the price of XRP had soared over 400% and almost reached $3 on several occasions. Although the community was hoping for a strong push beyond this threshold and a new all-time high above $3.4, the asset pulled back and even fell below $2 earlier this week during the general market correction .

Currently, XRP is around $2.5, with a market cap of just over $140 billion. To reach this wishful thinking of a capitalization of 1 trillion dollars, its price would have to rise to around 17.5 dollars per token. Although this seems ambitious at the moment, ChatGPT proposed several factors that could lead to such an increase.

Perhaps the most crucial element is the sentiment of the market as a whole. As long as the bull market remains intact, XRP has upside potential, including the possibility of reaching double-digit values. Another factor highlighted by ChatGPT and Perplexity concerns the level of adoption.

“Ripple has positioned XRP as a gateway currency for cross-border payments. If financial institutions globally adopt Ripple’s solutions, it could boost demand for XRP.

Partnerships with banks and payment providers could lead to increased transaction volume and liquidity.”

Increased use of the native token for cross-border transactions, as well as the imminent arrival of the stablecoin RLUSD, could also influence XRP’s price movements and push it higher, the two chatbots said.

Challenges to overcome

ChatGPT and Perplexity also discussed some challenges that XRP might encounter along the way. Competition from other projects, including other established stablecoins like USDT and USDC, is one of them. The XRPL network faces various competitors and the price of XRP could be compressed if it fails to dominate the market.

It is also essential to mention the regulatory framework in both cases. If it were to evolve towards a more favorable attitude towards cryptocurrencies, as promised by Trump, this could benefit XRP. On the other hand, if the situation remained similar to that observed under Biden, the asset, just like many other US-based crypto projects, could suffer strong consequences.

ChatGPT also highlighted the increasing supply of XRP tokens and the potentially increasing selling pressure, which could slow the rise in its price.

“Ripple Labs holds a significant portion of XRP, which it releases periodically. This could create selling pressure, thereby limiting price appreciation.”