Why XRP Will Hit $7 This Cycle
This legacy crypto is far from over.
Unlike most other crypto assets in this space, XRP has failed to return to its ATH — let alone get anywhere near it — during the first market-wide bull run we experienced between October 2017 and January 2018.
2,382 days, to be exact.
This piece will cover why XRP can smash through its current peak.
Why $7? It’s more or less double its all-time high of $3.60, set in January 2018, which I deem to be a highly plausible target when accounting for the progress Ripple and XRP Ledger (XRPL) have made to their respective products over the past six to seven years.
Moreover, when accounting for inflation, we’d need to see a price of around $4.60 per token to truly return to its ATH, possibly higher, depending on when (or for the detractors, if) it sets a new top.
So, $7 isn’t that far-fetched, and I am reluctant to get into double digits. We need to remember that over 55.8 billion tokens are in circulation, not to mention that the total supply is around 99.9B.
Furthermore, a tiny amount of XRP is burned per transaction. While this represents a small quantity for now (317,271 tokens in Q4 2023; 636,184 tokens in Q1 2024, up 101% QoQ), this will increase as more XRP transactions are processed.
