Bold predictions rattle the crypto market from time to time.
The latest prediction hurls XRP to $1,896. It’s outrageous, to say the least, given that XRP is trading for $0.6368 now.
So, what is behind this colossal forecast? More importantly, does it have any substance?
Let’s take a look.
What you'll learn 👉
XRP at $1,896 – Rational or delusional?
Coingape recently reported that Ripple Labs has joined the International Swaps and Derivatives Association (ISDA). The trade association is dedicated to participants in the over-the-counter derivatives market and has more than 925 members in 75 countries.
A few of its members include prominent financial players like J.P. Morgan, Goldman Sachs, London Stock Exchange, and Algorand within the Digital Assets category. Ripple is already known for its active partnerships with global financial entities, businesses, and governments.
The new membership expands the foothold and credibility of the company, especially after the verdict in the SEC lawsuit. More high-profile partnerships will unfold in the coming months, catalyzed by the recent developments.
The news ignited a heated discussion on Twitter about how the alliance can impact the price of XRP. The tweet shared suggests mathematically that the coin could explode to $1,896 in the best-case scenario.
Now that #Ripple has joined #ISDA take a look at the possibilities for #XRP Price and adoption. $1,896.23 per #XRP👁️
— Digital PerspectivesPermaBull🪝 (@DigPerspectives) August 7, 2023
It`s always been about how much adoption,what Percentage will #Ripple and #XRP get of the remittance/clearing/settling derivatives market? https://t.co/RrbvzBceKU
The forecast is underpinned by the premise that XRP captures 10% of the derivatives market. Even if that were to happen, they miss the fact that XRP must process $100 trillion, and expand its market cap around 2,865 times to reach that point.
That is.. a LOT. The prediction clearly has flimsy foundations.
“That calculation is very flawed. It supposes that all the derivatives trades would be made at the same time with the entire circulating supply of XRP. Nonsense. In reality, you can’t even remotely estimate the price of XRP based on any industry that would use it. Too many unknowns,” replies an XRP influencer to the tweet.
What is a realistic target for XRP this year?
XRP has seen its share of ups and downs this year. While the market expected Ripple to reverse its losses made over the last two years, that has not been the case. After an initial momentum, XRP is back to $0.6.
At this pace, $1 seems like an ambitious, yet achievable goal for the world’s fifth-largest cryptocurrency.
XRP 1-year price action, 11 Aug 2023, CoinMarketCap
At the time of this writing, XRP has a market cap of $33.6B. That is too large for an explosive price action.
If XRP can’t bring multifold returns to investors, which cryptocurrencies can?
It goes without saying that high-cap assets like XRP and ETH are saturated. Despite being established with strong credibility, they have little room for growth.
If you have your eyes set on 1000% to 10,000% returns, you need to think beyond clichéd assets. The key lies in finding potential assets while they’re young.
To give you a head start, here are three assets that are widely predicted to enter the top 50 chart this year.
XRP20 has stolen the XRP Army in August
Without any strong positive momentum, XRP could find support at $0.45 this month.
Stake-to-earn XRP20, on the other hand, has been making the most of the XRP dip in its favor.
The presale of XRP20 is inching closer to its sell-out as word gets around the crypto community. The viral coin is selling for $0.000092 at the presale.
The low price, and in turn the low initial market cap, has urged XRP investors to redirect their funds to participate in the presale. It leaves room for potential growth of anywhere between 3000-5000% this year.
But the best XRP can aspire to achieve this year is a 50% growth, if it touches above $1.
The ERC-20 token is crafted to rekindle the enthusiasm of the XRP community. It has the potential to deliver significantly higher returns than XRP due to its low entry point.
While the XRP presale was largely out of reach for retail investors, XRP20 presents an early investment opportunity for retail investors. Another major difference lies in the target audience. XRP primarily caters to traditional financial institutions and lacks utility for retail investors. But XRP20 sustains retail demand through on-chain staking.
The staking rewards motivate investors to hold their tokens and support the tokenomy. The deflationary tokenomics (0.1% of every buy and sell transaction) also contributes to the unhindered growth of XRP20.
Even though XRP’s price predictions appear dim due to its substantial market capitalization and lack of significant milestones on the horizon, XRP20 rekindles the passion of the XRP army.
Wall Street Memes (WSM) – The next meme coin to explode
The meme coin mania of 2023 began with Pepe. On and off, meme coins still continue to take the market by storm.
The next in line to explode is Wall Street Memes. The meme coin, currently in the presale stage, has raised $23M out of its targeted $30M. That’s a remarkable achievement. Whales and retail investors have been pouring in money to the presale anticipating a price rise of anywhere from 7000% to 10,000% on its release.
For example, an investor acquired WSM tokens worth 460 ETH last week. The presale will sell out in a few days at this pace.
The key factor behind the hype is the Wall Street Memes community, which has a global foothold of 1 million investors, traders, and business leaders. Even figures like Elon Musk are part of this audience.
WSM has the potential to shatter meme coin records this year and ignite a bull run that outperforms Pepe.
Launchpad XYZ (LPX) – A lucrative long-term crypto investment in 2023
If you’re looking for a utility coin that can grow over time from its expansion and adoption, Launchpad XYZ is an excellent option.
The project is building a Web3 hub that lowers the entry barrier to the crypto, NFT, metaverse, and play-to-earn sectors. It is an extensive project with the goal to onboard the next 10M users to Web3.
The project development justifies the grand ambition, hinting at a slow and steady growth for the underlying token.
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— Launchpad.xyz (@launchpadlpx) August 10, 2023
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Given that more traditional investors are seeking crypto investments, Launchpad XYZ has high growth potential. Despite the growing interest, technical complexities and jargon drive away new participants within a short time.
We need projects like Launchpad XYZ to show the masses what the industry is truly capable of. Launchpad XYZ achieves its goal by providing valuable insights about the diverse yield opportunities in the industry.
Although the true potential of LPX will unfold in 2024, it can climb 1000-1500% this year. That’s a remarkable opportunity when compared to the two-digit performances of high-cap cryptos.
Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
