Joshua Jake Comments on the Prospect of XRP Reaching $10,000 per Coin

Widely followed crypto commentator Joshua Jake recently commented on the prospect of XRP reaching $10,000 per coin.

Popular crypto commentator Joshua Jake recently shared his thoughts on the possibility of XRP reaching $10,000 per coin, reacting to a recent analysis that explored this scenario.

Another analyst had attempted to break down how XRP could hit $10,000, suggesting that it could happen due to the approval of XRP ETFs as a catalyst for a supercycle.

The analysis listed several factors for an institutional bull market in 2024, including the approval of iShares BTC & ETH ETFs, which would unlock Locsin’s vision. It also considered the role of institutions in the crypto market and traditional finance (TradFi) involvement, as well as government involvement in crypto and the creation of crypto reserves.

suggesting that the iShares Bitcoin & Ethereum ETFs could be approved by June, paving the way for a supercycle in the summer.

However, Jake disagreed with parts of the argument, which he said were "misconceptions," especially since the video has gone viral.

According to the video, another analyst broke down the possibility of XRP hitting $10,000 per coin.

suggesting that it could happen due to the approval of XRP ETFs as a catalyst for a supercycle.

The analysis, which listed several factors for an institutional bull market in 2024, also considered the role of institutions in the crypto market and traditional finance (TradFi) involvement, as well as government involvement in crypto and the creation of crypto reserves.suggesting that the iShares Bitcoin & Ethereum ETFs could be approved by June, paving the way for a supercycle in the summer.

But Jake had some thoughts on the analysis, sharing them in a recent video.

According to the analysis, the good news is that the U.S. president will announce the formation of a crypto reserve, which will buy up all major coins like BTC, ETH, and XRP. However, Jake pointed out that President Donald Trump had already signed an order to establish a crypto reserve, but it did not include any altcoins except for Bitcoin.

“Now, if you zoom in, you can see that Trump is holding some XRP in his hand. But in the final order, there was no XRP or any other altcoins except for Bitcoin. They are putting together a basket of major coins to be used in the new crypto reserve. But even if they add XRP later, it won’s create the supply shock that they are discussing.”

The analysis also considered the possibility of an institutional bull market in 2024.

suggesting that it could happen due to the approval of iShares Bitcoin & ETH ETFs, which would unlock Locsin’s vision.

However, Jake noted that if this were possible, the success of Bitcoin ETFs should serve as the benchmark.

“If ETFs can push Bitcoin to $1 million, then we should see it already. But despite the success of Bitcoin ETFs, we haven’t seen anything close to that price level.”

According to him, ETFs primarily open up institutional involvement, leading to increased market-making and higher resistance levels.

“But to push XRP to $30 or even $20 from its current price will require an extraordinary amount of value to be poured into the market. We will need an astronomical sum to heat up XRP to $20. To put it bluntly, it’s impossible.”

The crypto community is buzzing with anticipation over the possibility of new iShares Bitcoin (BTC) and Ethereum (ETH) ETFs being approved by June. This development could be a pivotal moment in the unfolding Locsin’s vision for a cryptocurrency supercycle.

The iShares Bitcoin and Ethereum ETFs have been the subject of much speculation and discussion. As one of the largest ETF providers worldwide, iShares, a subsidiary of BlackRock (NYSE:BLK), is a significant player in the industry.

The potential approval of these ETFs could have far-reaching consequences for the cryptocurrency market.

Institutions are playing an increasingly critical role in the cryptocurrency sphere.

With their deep pockets and long-term investment horizons, institutions are bringing a new level of sophistication and staying power to the crypto markets.

As institutions allocate larger portions of their portfolios to cryptocurrencies, it is likely to command an increasingly significant share of the total market value.

Moreover, the involvement of institutions is heating up the competition among cryptocurrency exchanges. Exchanges are vying for the attention of institutional investors, offering them a variety of products, services, and competitive rates.

This institutional activity is also bringing about a convergence between traditional finance (TradFi) and decentralized finance (DeFi).

Institutions are seeking innovative ways to integrate cryptocurrencies into their existing investment strategies, while DeFi protocols are eager to expand their reach and liquidity.

In addition to the role of institutions, the analysis highlighted the involvement of government in crypto and the creation of crypto reserve.

suggesting that President Donald Trump will announce the formation of a crypto reserve, where the government will buy up all major coins like