Ripple has decided to drop its cross-appeal against the SEC, marking the end of a lengthy legal saga. This decision has sparked a wave of speculation about XRP's price.
Ripple's Announcement to End Legal Dispute
In his statement, Ripple CEO Brad Garlinghouse said, "We’re closing this chapter once and for all." The SEC is expected to reciprocate, leading to a brief surge in XRP's price by 5% to $2.20.
Predictions and Speculations about XRP Price
Amidst market speculation, the idea has emerged that XRP could reach $10,000. Some predictions are more modest – for instance, social media personality Jake Gagain estimated that a 50x surge would push XRP to $106.50. Meanwhile, influencers have called such projections "conservative." According to Casi Trades, "If you think XRP can’t reach double digits, you don’t understand crypto!"
Financial Reality and Analysis of Predictions
However, a $10,000 price for XRP implies a market cap of $590 trillion, far surpassing the entire global economy. Gagain suggests that even a price of $106 would mean a $6.28 trillion valuation, more than double Bitcoin’s peak market cap. Rollup host Andy bluntly dismissed the $10,000 forecast as "pure fantasy," adding, "XRP is not going to $10,000… $10 is already a stretch."
While Ripple concludes its legal battles, questions about XRP's future price remain open. Discussions about a potential $10,000 valuation spark much debate and skepticism; however, reality shows that such estimates would require significant shifts in market capitalization.
