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Cryptocurrency News Video
Here's the Main Reason XRP May Never Hit $1,200!
Dec 24, 2024 at 10:00 am Pojok Investasi
Many are optimistic that XRP could reach a price of $1,200 per token, as some analysts predict. However, there are also strong arguments for why this target may be difficult to achieve. What is the reason? And how do the facts compare to Bitcoin's history? Let's discuss further! [Segment 1: Comparison of XRP and Bitcoin] A market analyst named Steph recently put forward the idea that % in two years. Steph sees that XRP, currently trading at $2.21, has the potential to follow a similar pattern. Moreover, XRP recorded a huge surge in 2017, from $0.005 to $3.31. In Steph's view, there is no reason why XRP cannot reach $1,200 in this bull run. However, this view was not accepted without criticism. Nathan Goldstein, a real estate investor and Bitcoin supporter, provided arguments challenging Steph's claims. [Segment 2: XRP's Main Challenges] Goldstein highlights that the main difference between XRP and Bitcoin is the much larger supply. For context, XRP has a maximum supply of 100 billion tokens, with 57.25 billion currently in circulation. In contrast, Bitcoin only has a maximum supply of 21 million tokens. According to Goldstein, if XRP reaches a price of $1,200 per token, the fully diluted market cap will jump to $120 trillion. This is an extraordinarily large number, even higher than the total global money supply (M2) which is currently estimated at around $104 trillion. By comparison, when Bitcoin hit $1,200 in 2013, its market capitalization was only about $14.4 billion, far less than the global money supply at the time. In other words, XRP's current situation is fundamentally different from Bitcoin's back then. [Segment 3: Other Factors to Consider In addition to supply issues, there are other factors that make the $1,200 target for XRP look very ambitious. One of them is the adoption and utility of XRP in the financial ecosystem. Although XRP has seen a price surge of 336% since November 2024, there are major challenges in attracting massive investments to support a rise to such high prices. Goldstein also added that structural differences in the Bitcoin and XRP ecosystems could impact the prospects of both. Bitcoin, which is more often thought of as a store of value, has a different narrative than XRP, which focuses more on the efficiency of cross-border money transfers. [Segment 4: Conclusion and Investor Considerations So, can XRP hit $1,200? In theory, the potential is there, but practically, there are many big challenges that must be faced. The unusually large market capitalization and comparison with the global money supply are major obstacles. However, this doesn't mean XRP doesn't have a chance to provide significant returns. As Goldstein says, "The price journey is not always about the highest peak, but about understanding the potential at certain levels." #ripplenews #xrptoday #xrpcrypto #xrpnewstoday
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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