Why XRP Coin’s Hopium-Fueled $10,000 Dream Is Just A Fantasy
NOIDA (CoinChapter.com)—Despite Ripple lining up some bullish cues recently, XRP coin’s recent price action has been far from inspiring. After the high-profile SEC victory, many expected the Ripple token prices to show bullish strength, but instead, it has mostly remained stagnant.
The token has traded sideways, leaving investors puzzled. Ripple has secured several partnerships and plans to position itself as a key player in the CBDC space, yet the token’s price failed to break out.
Even the ruling that classified XRP coin as not a security didn’t generate sustained upward momentum. The disconnect between Ripple’s fundamental progress and XRP’s price behavior has become a head-scratcher for those anticipating a big breakout.
Despite this, delusion about XRP price action and speculation about future token prices remain far-fetched.
A Dream That Won’t Die: The $10,000 XRP Fantasy
XRP enthusiasts continue to cling to the dream of the token reaching $10,000, no matter how far removed from reality it might be.
Tweets predicting XRP’s path to $10,000 have been around for years.
A quick look through social media platforms like X reveals countless bold predictions of XRP coin hitting this magical price. Despite XRP currently hovering around $0.50, reality seems to be an afterthought.
Even with Ripple’s legal victories and expanding partnerships, XRP’s price has remained firmly grounded. Yet, the fantasy endures.
Simple calculations reveal the absurdity of these predictions. XRP currently has a circulating supply of 56.3 billion tokens, which we assume remains constant for our calculations.
A speculative tweet claiming XRP could surpass $1,000 through SWIFT transactions.
If the XRP coin somehow manages to reach $1,250 per token, based on the assumption that 10% of SWIFT’s $1.25 quadrillion annual transaction volume would be processed through the XRP Ledger, its market cap would balloon to $70.41 trillion.
Even at this staggering level, the dream of $10,000 remains distant. To reach $10,000 per token, XRP’s market cap would need to leap to a mind-boggling $563 trillion—a number that dwarfs the combined value of all global assets.
For context, the total value of global assets, including stocks, bonds, and real estate, is around $100 trillion.
XRP at $10,000 would be worth more than five times that amount. Moreover, if XRP token’s market cap reaches such astronomical high levels, the wider crypto market would also rise. Take Bitcoin, for instance.
Bitcoin currently has a market cap of approximately $1.13 trillion. Maintaining its 56% market dominance, the BTC market cap would surge to $2.70 quadrillion if XRP reached $1,250, making each Bitcoin worth $136.73 million.
Furthermore, if XRP prices hit $10,000, Bitcoin would jump to a mind-numbing $1.09 billion per BTC. Is this plausible? Absolutely not. But it remains a persistent fantasy for some. Hopium, hype, and shilling make a dangerous cocktail.
Technicals Have A Different Story To Say
Meanwhile, the XRP USD pair has formed a bearish technical setup called the ‘descending triangle.’
XRPUSD pair formed a bearish setup with a 63% downside target. Source: Tradingview
Analysts recognize the descending triangle as a bearish continuation pattern. The configuration features a declining upper trendline that compresses price action into lower highs, while a flat lower trendline serves as consistent but weakening support.
The pattern signals intensifying selling pressure, resulting in progressively weaker rallies that struggle to breach resistance.
In this setup, traders estimate the potential downside by measuring the maximum height of the triangle. Pepe coin’s price recently broke out of this descending triangle, only for bulls to push it back within the pattern.
However, if XRP Coin’s price confirms the bearish setup, the XRP USD pair could plummet by nearly 63%, reaching a target near $0.2.
A breakout below the pattern in the current market climate could be catastrophic for XRP coin prices, especially considering the indecision among market participants.
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