The popularity of cryptocurrency has surged over the years and now investors are looking at the crypto market as a potential place to store money.
This will enable the crypto market to continue expanding and crypto trading to become the new norm. The future is bound to be almost completely digital.
On top of that, it will enable many people to look at the market in a new light. Such predictions only increase the value of crypto assets, and it is only logical that they may reach new highs in the near future.
One of the most well-known cryptos is Ripple, which primarily acts as a network for banks and financial institutions to exchange currency.
Whether Ripple will reach $100 in the next five years is questionable and depends on several factors. According to an XRP_Cro survey, 72.4% of XRP investors believe that Ripple may reach the value of $100 in the next five years.
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Can Ripple reach $1,000?
Experts believe that Ripple will likely not reach $1,000 in the near future. For XRP to reach this price per coin, its market cap would have to reach at least $100 trillion, which is not something we will see any time soon.
But such predictions can be vastly incorrect because the crypto market has proved time after time it can hit indescribable values which we did not expect.
However, for now, such estimations appear to be correct, and will only change if there is a significant change in the price of Ripple or a major shift in the cryptocurrency market.
The announcement of the lawsuit against Ripple at the end of 2020 by the US Securities and Exchange Commission resulted in a major decline in XRP’s price.
The lawsuit nearly halved the value of Ripple and after such an event, it will take time for the crypto to get back to where it was. However, some sources still believe that Ripple’s price may increase to around $10 at some point.
When Bitcoin hit the value of $68k in 2021, many believed that other cryptos were also bound to get a similar amount of attention online.
Cryptocurrency is thriving in news and the audience which engages continues to thrive on too. It seems Bitcoin is only growing in popularity since its inception more than a decade ago, and hopefully some of that attention will spill out to Ripple as well.
Can Ripple reach $10,000?
Earlier we concluded that it will be nearly impossible for Ripple to reach a value of $1,000 per coin in the near future. Therefore, to achieve $10,000 is even more unlikely.
The price of Ripple is estimated to reach around $1 to $2 dollars max by the end of 2022. While there is a chance it might reach higher, it is not likely it will surpass $10.
Such predictions are backed up by analysts throughout the crypto community.
Will Ripple Make Me a Millionaire?
This is a tricky game to play because the crypto market is one of the most unpredictable markets in the world.
In one moment, it could soar high in the sky and reach unthinkable new highs and then, a moment, later it could crumble into a nest of destruction. Because of this, it is not safe to say whether Ripple will make you a millionaire or not.
Ideally, you should not invest more than you can afford because there is always the risk of losing it all.
You should also really consider if cryptocurrencies are really worth investing in at this point in your life, and if so, then go right ahead with it.
As much as the crypto market is unpredictable, it can also be highly profitable. Many have chosen to only invest in cryptocurrencies, and it has turned out more than fine for them.
Read Also: Should You Buy Ripple?
Will Ripple Win Against the SEC?
The Securities and Exchange Commission (SEC) is accusing Ripple of selling its XRP tokens as an unregistered security, thus violating the law.
Ripple continues to deny this allegation saying that Ripple is not security. The chances of Ripple winning the battle with SEC are good for two reasons:
First, Ripple was fined in 2015 by the Financial Crimes Enforcement Network (FinCEN) and was qualified as a “virtual currency”, not a security. The fact that a regulator like FinCEN has classified Ripple as a virtual currency may in some ways invalidate the SEC’s allegations.
Second, Ripple could be in a good position to win against the SEC because Gary Gensler, the former chair of the Commodities Futures Trading Commission (CFTC), now heads the organisation.
Gensler is known as a supporter of cryptocurrencies and has previously described Bitcoin as “a catalyst for change”.
- The cryptocurrency market is increasing in popularity and investors are now looking at it as a new potential place to store money.
- Experts estimate that Ripple may not be able to reach $1,000 now or in the near future.
- Therefore, Ripple reaching a price of $10,000, is even more unlikely.
- It is best that your investment in crypto does not exceed what cannot afford to lose.
- Ripple was fined in 2015 by the Financial Crimes Enforcement Network (FinCEN) and was qualified as a “virtual currency”, not a security.
- The fact that a regulator like FinCEN has classified Ripple as a virtual currency may in some ways invalidate the SEC’s allegations.
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Virtual currencies are highly volatile. Your capital is at risk.