A prominent cryptocurrency analyst explains how XRP being valued at $1,000 per unit is peanuts.
JackTheRippler, a top crypto analyst, has made bold assertions about XRP price hitting $1,000. In a tweet today, JackTheRippler said XRP changing hands at a whopping $1,000 per unit is “peanuts.”
The top cryptocurrency analyst asserted that XRP is not a share nor a stock. According to JackTheRippler, XRP is a utility protocol designed to tokenize value across diverse markets, including commodities and derivatives markets.
Furthermore, JackTheRippler said over $1.2 quadrillion worth of assets across these markets need to be tokenized. He explained that the derivatives market alone is valued at around $500 trillion.
Consequently, he speculates that if XRP can capture 10% of one of these markets, like the derivatives market, the cryptocurrency will be valued at a whopping $50T.
Aside from the derivatives market, JackTheRippler said there are other markets, including housing, debt, and commodities, that are worth at least $1.2 quadrillion, which XRP can also account for a significant share.
In this regard, JackTheRippler said XRP being valued at $1,000 per unit is nothing but peanuts.
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Source: https://thecryptobasic.com/2023/07/04/top-expert-says-1000-per-xrp-is-peanuts-heres-why/?utm_source=rss&utm_medium=rss&utm_campaign=top-expert-says-1000-per-xrp-is-peanuts-heres-why