Crypto Bird Expert Explains Why XRP’s $100 Price Target Isn’t ‘Crazy’ When One Realizes XRP Ledger (XRPL) can do He noted how the network could dominate tokenization and on-chain settlements, and cause trillions of dollars to flow from XRPL.
Why XRP’s $100 Price Target Isn’t “Crazy”
In one X postBird indicated that the increase in the price of XRP to $100 could happen due to the capabilities of the XRP Ledger and the potential of the network to dominate several crypto sectors. He noted that XRPL can be tokenized real assets, including asset classes worth trillions of dollars. These include Treasury bonds, land, gold, silver and several global currencies. He added that this is just the surface as other RWAs are also being marked on the network.
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Additionally, Bird also pointed to liquidity pools, locked-in yield mechanisms, on-chain settlement, and the broader trend of tokenization as factors that could lead to their emergence. XRP price reaches 100 dollars. The expert added that when these other crypto sectors are included, market participants can see what is possible in the hundreds of trillions of dollars.
The expert also noted that when the real world value moves on the chain, then the networks that manage liquidity effectively will win, which is where the XRP Ledger comes in. “It’s the bigger picture that most people miss.” It should be said that in tokenized value continues to rise in the network.
RWA.xyz data shows that the XRP Ledger currently ranks 6th in terms of tokenized value on the network at $2 billion. This bodes well for the price of XRP, as the tokenization trend could increase the utility of XRP and thus increase demand. Meanwhile, like Baird, crypto expert Austin also noted that the $100 target for XRP is not “crazy.”
XRP is expecting an upward turn
In one X postcrypto analyst Egrag Crypto revealed that the price of XRP will rise above the 200 EMA, which may cause a high turnover. The analyst stated that if XRP closes the weekly 200 EMA and $1.55, then the short-term strength will increase and the momentum will change. However, if the price remains within the descending channel, the broader structure remains corrective.
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Currently, the key levels to watch for XRP price are a retracement of $1.55, which indicates short-term strength, and $2.20 per week is closedwhich indicates high expansion. On the other hand, a rejection from $1.55 could lead to a rise to $1.26, placing macro supports between $0.95 and $0.85 on the cards.
At the time of writing, XRP is reportedly trading at around $1.41, up more than 4% in the last 24 hours. information from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com
