Ripple’s native token, XRP, is one of the most sought-after cryptocurrencies in the markets. Investors who recently entered the markets knew or heard about the token because of its battle with the SEC.
Because XRP is under constant scrutiny from the investment community, analysts are making price predictions that are immediate and front and center. Not a day goes by without a wild price prediction for the leading altcoin being thrown out of the window.
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From the price reaching $1 to $20 and $30, there is a prediction for every number in the news cycle. Some have even gone a step further and predicted that XRP could climb above the $600 mark.
While this may be a sensation for investors, the numbers are far removed from reality. Wild XRP price predictions blur the line between ‘myth and reality’, making it difficult to determine what is true.
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Ripple's XRP to $30: Myth or Reality?
Wild price predictions on the crypto market
Wild price predictions are now the norm in the crypto market. Let's take the case of Crypto Hedge Fund Manager Thomas Kralow, who previously proudly proclaimed that XRP could reach $30.
Can XRP Really Hit $30?
So, can this be true? Can Ripple’s native token rise in price from $0.57 to $30 in less than two years? Well, the cryptocurrency market has generated coins that have performed even more significantly, that’s for sure, but can XRP do the same?
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The myth of market capitalization
The price prediction is simply a myth because if the price of XRP can reach $30, the market cap must be $3 trillion.
That's nearly equal to the market capitalization of top tech giants Apple Inc., Microsoft and Google's parent company Alphabet. These companies generate billions in assets each year and employ millions of people worldwide.
The reality check
That XRP will reach a market cap of these tech giants is a myth. Ripple needs to undergo a massive corporate overhaul to even consider reaching a market cap of, say, $1 trillion.
Until then, the $30 price prediction for XRP is a myth and not reality.