The XRP community is actively discussing the long-term potential of the cryptocurrency, raising numerous ambitious forecasts about its value.
Breakdown of the $33.8 Million Estimate
One notable figure within the XRP community, known as The5Blairs, recently presented a scenario in which the value of 10,000 XRP could grow to $33.8 million. This projection is based on a potential price increase to $3,380 per token. At the time of this estimate, XRP was valued at approximately $2.20. The5Blairs analyzed the token's transaction velocity and annual settlement volume, noting that XRP facilitates around $1.3 trillion in yearly transactions. He argues that with further expansion, particularly through new partnerships and institutional adoption, XRP could potentially support between $100 trillion and $2 quadrillion in annual transactional volume.
Key Factors Influencing XRP's Growth
Among the factors supporting this price outlook is Ripple's extensive network of business partnerships, many of which are formalized through non-disclosure agreements (NDAs). During Ripple's legal dispute with the U.S. Securities and Exchange Commission, it was revealed that the company had signed over 1,700 NDAs with various banks and financial institutions. These partnerships suggest broader institutional interest that could translate into future adoption of the XRP Ledger. Ripple CEO Brad Garlinghouse has also noted that the XRP Ledger could eventually support up to 14% of SWIFT's global transaction volume.
Speculations on XRP's Market Impact
Despite the theoretical basis of this estimate, it remains uncertain how much of the market and in what segments XRP can realistically capture. Nevertheless, there is optimism around XRP's role in the derivatives and foreign exchange markets, considering the notional value of global derivatives exceeds $1 quadrillion. Additionally, Ripple's increasing presence in financial infrastructure also fuels interest in the token.
While these projections are highly speculative and depend on a multitude of variables, they reflect the growing confidence within the XRP community. Investors continue to monitor developments surrounding Ripple's partnerships and the token's potential use cases, all of which could significantly influence its long-term value.
