Debunking the $5800 XRP Claim: Samson Mow Explains Why It's Unrealistic

Though strong price projections are not unusual in the crypto space, occasionally, the speculation reaches levels worthy of examination. Recently, JAN3 CEO Samson Mow, an outspoken Bitcoin maximalist, reacted to assertions implying XRP would one day be worth $5,800, equivalent to or perhaps surpassing Bitcoin in value.

In the volatile world of cryptocurrencies, where bullish outlooks are common and speculative price targets can quickly turn astronomical, a recent exchange on social media has brought to light a stark divergence in market opinions.

As we’re about to see, the claims that XRP could one day reach a price of $5,800, or that it might outpace Bitcoin in value, have drawn the attention of several crypto analysts. Among them, JAN3 CEO Samson Mow, a known Bitcoin maximalist, reacted with assertions of why he believes this scenario is not achievable and what his comments reveal about the broader market sentiment towards XRP and Bitcoin.

Let’s take a look at what happened.

Small Portion Of XRP Community Is Making This Claim

While mainstream crypto analysts have not been speculating about XRP reaching $5,800, a small portion of the XRP community, who have long felt that the asset is significantly undervalued, have been making this claim. Some of these assertions link XRP’s future price to a potential global financial reset, cooperation with central banks, or massive institutional adoption of the token.

Those who believe in XRP’s potential highlight that it’s a native token for Ripple’s technology, which is used for cross-border payments and foreign exchange. They argue that it has the potential for explosive price growth. However, critics, such as Mow, see these claims as part of a "fantasy world" narrative rather than grounded analysis.

Samson Mow’s Reality Check On $5,800 XRP

Known for his blunt commentary in the crypto sphere, JAN3 CEO Samson Mow had harsh words for those touting $5,800 XRP. In a viral tweet, Mow called the valuation “insane” and stated that it would be a "scam" at any price above $0.05.

Further elaborating on his stance, Mow pointed out that even if XRP were to achieve the entire market cap of all fiat currencies in the world, which he estimated at $7 trillion, it would still be valued at around $4.5 trillion. This, he added, is less than Apple’s (AAPL) peak valuation. Moreover, Mow contended that Bitcoin would likely reach $500,000 before XRP hits $5,000.

Why This Discussion Matters

While it’s easy to dismiss outlandish price predictions, this discussion brings to light a deeper clash of viewpoints among crypto enthusiasts. As those who follow the crypto space know, XRP fans are often met with backlash from Bitcoin maximalists, who tend to view altcoins like XRP as distractions or even scams.

Mow’s remarks highlight a significant split: usefulness versus philosophy. While Bitcoin is touted for its role as “sound money” with a limited supply and decentralized nature, XRP is promoted for the speed and efficiency of Ripple’s technology in facilitating cross-border payments.

Investors Should Know This

Ultimately, Samson Mow is urging people to approach crypto valuations with critical thinking as he shot down claims that XRP could reach $5,800.

Although the crypto market is known for its volatility, and many are aware of the role hype and hope can play in this domain, ultimately, an asset’s value is grounded in its fundamentals, adoption, and real-world use cases.