A recent forecast from crypto analyst BarriC has highlighted the long-term outlook for XRP. He asserts that the token’s price has thus far only been influenced by altcoin seasons and the four-year cycle, leaving an entirely different situation yet to be explored. He posits that when XRP eventually embarks on a utility phase, its worth could soar well beyond the current values, reaching $100 initially and finally arriving at $1,000.
XRP Has Yet to Undergo a Genuine Utility Phase
Similar to numerous other cryptocurrencies, XRP has been subjected to periods of enthusiasm, corrections, and rapid capital influxes. Its surges in prior bull markets, notably in 2018, were primarily driven by investor sentiment rather than widespread practical application. Nevertheless, many crypto experts contend that XRP’s dynamics are evolving, especially now that the SEC-Ripple lawsuit, which has hindered its price’s natural growth, has concluded.
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BarriC suggests that no cryptocurrency, including XRP, has yet gone through what he terms a utility phase. A “utility phase,” as he describes, would rely on adoption across banking networks, remittance firms, and global payment systems. In this scenario, XRP would transition away from being seen solely as a speculative asset and would instead achieve a price level supported by consistent, large-scale demand for transactions.
Moreover, there is no data available to indicate what transpires when trillions of dollars begin to flow directly through XRP. This lack of precedent leaves open the possibility for significant upward potential that cannot be evaluated through past cycles alone, and the notion is that there’s no way the XRP price remains between $3 and $4 if millions, billions, and trillions of dollars start moving through the XRP Ledger.
Why $1,000 Is Not Impossible
The prospect of XRP climbing well beyond double digits at $10, triple digits at $100, and reaching four digits at $1,000 has been a widely discussed subject among XRP advocates and skeptics this cycle. Supporters like BarriC contend that XRP is on a clear path to achieve $1,000 and stabilize above that figure. Conversely, critics argue that this is unattainable, considering the market capitalization it would need to attain such a price.
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In response to those who claim that XRP can never hit $1,000, BarriC retorted by indicating that such assertions lack factual basis. Since no cryptocurrency has yet undergone a true utility-driven cycle, dismissing four-digit targets for XRP is hasty. Once XRP begins experiencing millions in inflows and becomes integral to global financial transactions, reaching such figures becomes entirely feasible. “That’s when we witness prices for $XRP exceed $100 and comfortably settle at $1,000,” he expressed.
At the time of writing, XRP is trading at $2.97, down 4.8% over the previous 24 hours. Currently, the immediate goal should be to maintain a position above $3.
Featured image from Getty Images, chart from Tradingview.com
