Patrick L. Riley, CEO of Reaper Financial and chairman of the BLOC oversight committee, seems to be making the boldest decision on the price of this altcoin.
Expect an increase for this altcoin
While most estimates of XRP suggest its price has reached $1,000, or even $589,000 in the five digits, Riley believes XRP could be worth one million US dollars by 2030.
The CEO of Reaper Financial was responding to a reader’s question about what would be worth a million dollars in 2030 when referring to Ark’s Cathie Wood Bitcoin price prediction. Riley replied ‘2 XRP’.
2 $XRP
— PATRICK L. RILEY (@RealReaperCEO) February 6, 2023
Ark Invest by Cathie Wood is committed to one of its boldest predictions ever: the value of a single Bitcoin will exceed $1 million in the next 10 years.
The company’s most optimistic forecast is for Bitcoin to reach $1.48 million in 2030, a bearish case of $258,500 and the baseline scenario of $682,800.
Can XRP reach $1 million, according to the analyst?
While the $1 million estimate is roughly a 4,200% increase from Bitcoin’s current $22,900 level, XRP may need to recover around 400 million percent from its current price of $0.397 to reach $1 million. This means that XRP has a long way to go to achieve this goal and may delay the forecast on the grounds that it is unrealistic.
Ripple is in the midst of a legal battle with the SEC, which claims to have sold $1.3 billion worth of XRP as an unregistered security offering. The outcome is expected, which many believe will bring clarity to the crypto industry and influence the price of XRP. Reaper Financial joined the lawsuit by offering a friendly briefing in support of Ripple.
As previously reported, CryptoLaw founder and blockchain enthusiast John Deaton predicts that XRP will still be afloat in five years as it continues to weather the storms. According to cryptokoin.com data, XRP is traded at $0.39.
Whales don’t give up XRP
Now that the total crypto market cap has once again surpassed $1 trillion, it gives the crypto community a chance to consider other issues in the industry, such as the possible outcome of the dispute between the SEC and Ripple.
With people’s eyes on Ripple (XRP), it was noticed that the altcoin price dropped about 21% last month, while other cryptocurrencies in the market such as Cardano (ADA) and Polygon (MATIC) saw an increase of about 50%, respectively. Additionally, XRP has also been the biggest loser among the top 10 cryptos in the past 90 days as the token price has dropped 17% during that time.
On the other hand, Ripple’s Q4 2022 XRP Markets Report tells a different story as it shows that demand for On-Demand Liquidity (ODL) offering is still very strong. The company generated $226.31 million in sales this quarter alone.
Whale-watching platform WhaleStats also recently shared data suggesting that XRP is one of the most traded cryptocurrencies among the top 100 BSC whales. These top 100 whales are currently holding about $29.23 million worth of XRP. The altcoin was also among the top 10 tokens bought by the biggest BSC whales yesterday.
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