Several predictions for asset prices are made daily. While one set of them sticks to technicals, the other set—who’re in the game for the long term—relies on the fundamentals. In an interesting Twitter-chatter thread, Matt Hamilton, the ex-director of developer relations at Ripple, went on to claim that XRP would end up standing in front of the $100 threshold eventually.
To support his argument, the ex-Ripple exec went on to draw parallels with Bitcoin. He asserted that in 2009 if someone said that BTC would hit $60k, they would have been laughed at.
The afore-highlighted comment took place under crypto mine owner Max Walker Williams’ OG thread which teased that Ripple’s native asset could go on and attain a 3-digit valuation. Pseudonymous user ‘sir bitcoin’ went on to opine that the said forecast was bogus and Williams was a ‘scammer.’ He added,
“Xrp is a scam. You know this. Suggesting it could hit $100 is ludicrous. It’s overvalued by 99% (I’m being kind) at the current valuation… Suggesting a scam can 250x from here makes you a scammer.“
The user further went on to accuse that XRP is “literally a worthless entry” on a “centralised database.” Hamilton was quick to come to Ripple’s defense and asserted that the XRP Ledger is decentralized and cross-questioned the user if he indeed knew how blockchains worked.
Concerning the number game, the ex-Ripple exec said,
“…future valuations are very much subjective, and no-one has a crystal ball.“
He added,
“I don’t make price predictions. But I don’t see why XRP couldn’t hit $100 at some point. Just question of time.“
XRP’s state of affairs
Back in 2018, XRP was ranked two and stood right next to Bitcoin on the standings chart. Around the same time, it peaked in valuation too as it went on to claim $3.37. Post that, it ended up losing most of its value and kept sliding down on the rankings chart. It was initially overtaken by Ethereum in 2019 and other big alts followed suit.
To date, Ripple’s native token has not been able to revisit the highs. However, it remains to be a part of the top-10 list.
If Ripple and XRP had to perish, they would have already. To some extent, they’ve passed the test of time and are sort of dominating the cross-border payments sphere at this stage. Their roots aren’t restricted only to the States but have managed to spread throughout most continents.
During bullish phases in the past, a host of altcoins have managed to pull off massive unanticipated rallies. Expecting the same from XRP wouldn’t be a felony. In fact, per members of the XRP army, a favorable result of its lawsuit or Ripple going public could do the trick and direct the token to the track that would eventually lead it to $100. Even though the same might sound far-fetched for now, it should be noted that it is not completely out of the equation.