$XRP Ripple: Can XRP Surpass $1 Anytime Soon?

Will XRP surpass $1?

On the flip side, technical analyst Dark Defender recently set a target of $1.88 for XRP. Wells Fargo’s Shannon Throp previously called for an astonishing $500 per coin at one point.

Hi all, here is a quick update on the daily chart of #XRP.We have the daily break confirmed for both RSI & Price.Road to $1.88Have a great weekend!#ripple pic.twitter.com/vRziRyfa2r

— Dark Defender (@DefendDark) February 9, 2024

However, none of these lofty predictions have materialized so far, grounded by XRP’s huge circulating supply of over 54 billion tokens. For the coin to reach $1,000, its market cap would need to be $54.5 trillion – dwarfing crypto’s entire current valuation.

Chase introduced a hypothetical scenario where XRP attains the same $1 trillion market cap as Bitcoin, but even that would only push its price to $18. While provocatively toned, it considers what’s realistically achievable.

So while maximalists like Chase remain pessimistic about huge price gains for the coin, more optimistic analysts think triple-digit valuations are possible long-term. However, most concur that current challenging market conditions and lagging inflows have hindered gains for now.