Ripple’s native token, XRP, is among the most sought-after cryptocurrencies in the markets. Investors who recently entered the markets have known or heard about the token due to its battle with the SEC.
Since XRP is constantly under the purview of the investors’ community, analysts have been giving price predictions right and center. Not a single day passes when a wild price prediction for the leading altcoin is thrown off the shelf.
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From its price hitting $1 to $20 and $30, there’s a prediction for all numbers in the news cycle. Some have even gone a step ahead, forecasting that XRP could climb above the $600 mark.
While this can ignite some thrills for investors, the numbers are far from reality. Wild XRP price predictions blur the line between ‘myth and reality,’ making it hard to decide what’s true.
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Ripple’s XRP To $30: A Myth or Reality?
Wild Price Predictions in the Crypto Market
Wild price predictions are now the norm in the cryptocurrency markets. Let’s take the case of Crypto Hedge Fund Manager Thomas Kralow, who previously proudly proclaimed that XRP could hit $30.
Can XRP Really Hit $30?
So, can this be the truth? Can Ripple’s native token surge in price from $0.57 to $30 in less than two years? Well, the cryptocurrency market has generated coins that have performed even more significantly, no doubt, but can XRP do it?
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The Market Cap Myth
The price prediction is simply a myth because if XRP’s price can touch $30, its market cap needs to reach $3 trillion.
That’s nearly equal to the market cap of top tech giants Apple Inc., Microsoft, and Google’s parent company Alphabet. These companies generate billions in wealth yearly and employ millions worldwide.
The Reality Check
XRP’s reaching a market cap of these tech giants is a myth. Ripple needs to undergo a huge overhaul in business to even consider hitting a market cap of, say, $1 trillion.
Until then, the $30 price prediction for XRP is a myth and not a reality.