XRP Might Soon Reach the $10k Mark Due to Increased Global Interest and Adoption

XRP is currently riding the waves of success. Firstly, the SEC withdrew its case against Ripple. Secondly, sources suggest that XRP could reach an all-time high of $10k in the upcoming months.

Cryptocurrency XRP is having a turbulent month, but analysts are predicting a huge upswing in the coin, predicting that it might reach an all-time high of $10k in the upcoming months.

The SEC dropped its case against Ripple, and XRP has had a rough beginning to the month. The looming fear of a trade war knocked the price of crypto. However, analysts have noticed a slight uptrend in the coin and that the token might soon reach the $10k mark due to increased global interest and adoption.

Rowen Exchange broke the news in a post on X, claiming, “$10,000 XRP isn’t crazy. It’s conservative.” The exchange cited some reasons that can push this pricing surge.

As per Rowen Exchange, institutional adoption is one of the key factors that could push the price to $10k. The firm argues that the token has grown exponentially in the past with the help of institutional adoption. The firm pointed out that once banks start taking an interest in XRP for their day-to-day transactions and the government uses XRP for cross-border payments, the popularity of the token would skyrocket.

The firm noted that there are 100 billion XRP tokens in the market. Of these, only 50% of the tokens are in circulation due to long-term holdings and escrow releases. Analysts at Rowen Exchange believe institutional interest would squeeze the supply and increase the price over time.

Is 10K In Sight?

XRP is currently being traded for $2.60 with a 3.35% downtrend. Therefore, to reach 10K, the token needs to grow by a mammoth 362,000%. Therefore, some users have called out the firm for its ‘highly unlikely’ prediction for XRP. The user also pointed out that to reach 10K, the token must have a market cap of at least $1 quadrillion, again a highly unlikely feat.

Meanwhile, supporters of Rowen Exchange have argued that market capitalization has nothing to to with the price surge since the token derives its value from utility and not speculation.