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Will XRP Price Go 1000x?
Despite its stagnant price, some crypto analysts remain confident that the XRP price can increase 1000x from its current level. A 1000x price increase would represent a rise to $500 for XRP, which is undoubtedly an ambitious price target considering its current price. This article explores whether the crypto could eventually reach this price target.
Will A 1000X XRP Price Increase Happen
A 1000x XRP price increase can eventually happen as the crypto market continues to experience significant growth. A rise to $500 for XRP heavily depends on how much the crypto market grows and how soon it achieves this growth. For context, a $500 XRP means the crypto will have a market cap of $28.3 trillion based on its current circulating supply of 56.65 billion coins.
In reality, a 1000x XRP price increase seems unlikely at the moment, considering that the crypto market is valued at just around $2.3 trillion. However, the market will continue to expand as time passes, opening up the possibility of XRP setting its sights on this price target. Interestingly, Ripple CEO Brad Garlinghouse predicted earlier in the year that the crypto market would double in size and reach $5 trillion by year-end.
Another way in which XRP could reach this price target is if there were more deflationary mechanisms in place to help remove a significant amount of coins from circulation. This is why members of the XRP community have, at different times, called on Ripple to burn its escrowed funds based on the belief that this could trigger a significant rally.
Moreover, it will make a $500 XRP more feasible since fewer coins are in circulation. Token burns could be pointless if there is no actual demand for the asset. In XRP’s case, the crypto looks poised to enjoy massive demand with the potential launch of XRP ETFs. In line with this, crypto analysts like BarriC predict that the XRP price can reach $1,000 if an XRP ETF is approved.
What Will Make A 1000X Price Increase More Likely
The launch of US XRP ETFs will provide a major boost for the XRP price and could eventually be one of the catalysts for the 1000x rally. Depending on these funds’ success, their presence in the XRP ecosystem could lead to a supply shock that sends XRP flying. Besides these ETFs, Ripple will also have a role to play if the coin is to reach $500.
Ripple has centered its payment service around XRP, which continues to provide a bullish outlook for the coin. Analysts predict that the crypto firm could, at some point, steal a significant share of the market from SWIFT in processing cross-border payments. This development could lead to a massive surge in XRP’s demand and contribute to the 1000x price increase in the process.
In the meantime, the Ripple SEC lawsuit must end as the legal battle hinders the crypto firm’s progress, especially in the US market. Ripple CLO Stuart Alderoty recently disclosed the next steps in the appeal. Based on the timeline, the case could run till year-end 2025 or the beginning of 2026.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
FLOKI price soared to a five-month high after Coinbase included the Ethereum-based memecoin on its listing roadmap.
The token has gained 12% in the past 24 hours and nearly doubled over the week, defying broader crypto market corrections and some analysts claim it could rise by 500% to as much as $0.0015732.
Coinbase Listing Could Send Floki Price Up 500%, Analysts Say
Ethereum-based meme coin Floki (FLOKI) leads as one of the big winners of this week after Coinbase announced it had added the dog-themed token to its listing roadmap.
According to an analyst CRYPTO TISA who says 500% increase in price is to expect. That means, with currents value, FLOKI could reach the price of $0.0015732.
With him agrees Scofield, another analyst on X who claims price of $0,001 seems like a reasonable explanation. He explains that FLOKI listing on Coinbase isn’t just another exchange listing but a validation of what the team has been building and working towards. “Strongest fundamentals, real utility, and now backed by the most trusted name in crypto.”
After the news was announced, the price of Floki Inu surged 21% in under an hour to a five-month-high price above $0.00027. The cryptocurrency named after the real-life dog of Elon Musk is now up by 13% in the last 24 hours, making up for earlier losses during a broader market correction.
Assets added to the roadmap today: FLOKI (FLOKI)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 15, 2024
While the Coinbase listing roadmap usually indicates that crypto tokens might be listed in the future, it is still a good ringer for a spot to be added for trading. However, the exchange has recently made rapid changes in its listing, insinuating its growing openness to meme coins.
Coinbase also announced that FLOKI holders can claim a distribution of 3 billion tokens, following the token’s inclusion on Coinbase’s roadmap. The distribution is based entirely on on-chain activity, ensuring that only eligible users who meet certain criteria can claim their share.
Trump Effect? CB Meme Coin Embrace Signals New Era for Crypto
On Wednesday, Coinbase launched both meme coins by listing Ethereum’s Pepe (PEPE) and Solana’s Dogwifhat (WIF) on its roadmap. The coins simultaneously went live for spot trading.
Floki joined other top meme coins after Coinbase’s inclusion of its roadmap catapulted it to a five-month high – as Coingape correctly predicted.
According to CoinGecko, all three meme coins rank among the world’s 50 most valuable cryptocurrencies by market capitalization for now.
Coinbase has traditionally been cautious about meme coins. Still, it’s quickening the pace of their adoption since the election victory of Donald Trump, who vowed to make crypto regulations easier, interpreted as a sign of friendliness.
Dogecoin, the most valuable meme coins, was earlier at the forefront, doubling in value over a week before cooling off. Although the DOGE dropped 4% today, other meme coins, such as Floki, have grasped the momentum and reflect a wider interest in this very quirky market sector.
Coinbase adding Floki to its listing roadmap has helped push the token’s price to new heights. This claim distribution marks another significant milestone for the Floki ecosystem, which is rapidly growing its utility with upcoming DeFi tools and gaming offerings.
Therefore, two days ago, Valhalla, the PlayToEarn MMORPG from Floki, announced a new partnership with Dubai’s Mall of the Emirates. The collaboration, revealed on Nov. 13, marks a significant milestone in Valhalla’s global expansion strategy.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The XRP price has just had its biggest 24-hour surge in years to reach its highest level in over two years. Particularly, XRP surged by about 22% in a few hours to reach $0.8386. This intriguing surge has brought into focus XRP’s potential to challenge the narrative of it being dead.
Ironically, this XRP surge is tied to SEC Chair Gary Gensler. This is because the SEC Chair recently made an announcement hinting at what seems like a looming resignation, which seems to have fueled optimism among crypto investors.
Why Did XRP Surge Amidst Market Corrections?
SEC Chairman Gary Gensler, known for his crackdown on Ripple, XRP, and the entire crypto market, made an announcement today regarding his role in the commission. Interestingly, his remarks carried the tone of a farewell speech, reflecting on his journey with the SEC and its staff while hinting at a departure.
This doesn’t come as a surprise, as president-elect Donald Trump has made it a part of his campaign to fire Gensler after he’s sworn into office to appeal to crypto investors. Also, it aligns with the tradition of heads of institutions like the SEC to resign down when a new administration from a different political party takes office.
BREAKING: Gary Gensler releases statement suggesting he may be leaving the SEC 🇺🇸 pic.twitter.com/ROgYcxk02N
— Bitcoin Magazine (@BitcoinMagazine) November 14, 2024
Beyond the recent remarks by Gary Gensler, the XRP price has also gained momentum from a favorable ruling for Ripple in its ongoing dispute with the SEC. US Judge Phyllis Hamilton recently granted a joint motion for entry of judgement of the plantiff’s claims. Basically, what this means is that the Court has granted Ripple’s request for a hold on individual state law claims until a resolution could be achieved. This ruling represents another minor victory for Ripple as the legal battle stretches on, with a trial date now set for January 21 of next year.
What Does A Gensler Resign Mean For XRP?
The latest XRP rally is a tease of what’s in store for the XRP price in the longer term if Gary Gensler eventually leaves his position as Chairman of the SEC. Firstly, Gensler’s resignation could influence the trajectory of the Ripple-SEC lawsuit. A new SEC chair with a more crypto-friendly perspective might withdraw the appeal against Ripple, essentially removing a great burden that has slowed down XRP price growth.
Beyond the Ripple case, Gensler’s departure could signal a broader shift in the SEC’s regulatory approach to the crypto industry. US president-elect Donald Trump has said he wants the US to be the ‘crypto capital of the planet’. This misson would undoubtedly be reflected through the SEC. This could result in the approval of more exchange-traded funds (ETFs) based on cryptocurrencies, including XRP.
At the time of writing, XRP is trading at $0.81.
Featured image created with Dall.E, chart from Tradingview.com
Ripple CEO Brad Garlinghouse has linked the recent surge in XRP price to growing optimism about regulatory clarity in the U.S. In an interview with FOX Business, Garlinghouse emphasized the importance of a more balanced approach to crypto regulation under the new administration. He noted that U.S.-linked cryptocurrencies, including Solana (SOL) and Cardano (ADA), have experienced significant growth since Election Day.
Ripple CEO Lauds Trump as a “Crypto President” Amid XRP 70% Surge
Ripple CEO Brad Garlinghouse described the post-election environment as transformative for the cryptocurrency sector, crediting pro-crypto policies for the 70% rise in XRP value. The CEO referred to President-elect Donald Trump as a “crypto president,” praising his openness to blockchain innovation and entrepreneurship.
Brad remarked,
“The crypto industry has embraced Trump, Trump has embraced the crypto industry. I think it’s very genuine, and I think he sees the opportunity, he sees innovation, he sees entrepreneurship and I’m very excited about what the future holds.”
Garlinghouse highlighted that U.S.-linked crypto assets, such as XRP, SOL, and ADA, have outperformed other tokens due to the expected easing of regulatory pressure. He attributed the rally to reduced constraints from the U.S. Securities and Exchange Commission (SEC), whose actions had stifled growth. The Ripple CEO stated,
“The United States SEC has been manipulating and putting pressure on these US companies, US technologies, and now that pressure comes off and they explode upwards.”
XRP Price Rally Amid Bullish Sentiment
The XRP Price has reached a two-year high of $0.9193, driven by market optimism and key developments like Robinhood’s relisting of the token. Analysts suggest this surge aligns with a breakout from a symmetrical triangle pattern, signaling strong bullish momentum.
Market sentiment has also been boosted by a wave of institutional interest and increased trading activity. XRP is now approaching a critical resistance level at $1.00, with analysts forecasting further gains if this barrier is breached. Projections indicate a possible XRP price prediction of $1.5.
Whale Activity and Institutional Interest Drive Derivatives Market
In addition, the derivatives market for XRP has experienced a surge in activity, with open interest rising by 13% to $1.5 billion. This uptick is attributed to increased whale activity, including a transaction involving 60 million XRP worth $52.8 million. Such movements often suggest institutional trading or large-scale investment strategies.
🚨 🚨 🚨 60,000,000 #XRP (52,820,542 USD) transferred from unknown wallet to unknown wallethttps://t.co/ctufJ8AtVl
— Whale Alert (@whale_alert) November 15, 2024
Moreover, trading volume saw a sharp increase, climbing 25% in the past 24 hours to $11.70 billion. These metrics underscore growing speculative interest and optimism about XRP future performance in a more favorable regulatory environment.
More so, Ripple CEO expressed enthusiasm about the shifting regulatory landscape citing ongoing lawsuits and challenges. He welcomed the involvement of 18 state attorneys general who filed a lawsuit accusing the SEC of overreach in crypto regulation.
At press time, XRP is trading at $0.89, marking a 14% increase in the last 24 hours. The trading volume surged to $11.65 billion while the market cap stands at $50.80 billion.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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