A prominent crypto commentator known as Mason Versluis has issued a notable warning to XRP investors, pointing out that parts of the discussion around XRP to lofty price targets to $10,000 are far from reality and risk misleading investors.
Expert Pushes Back Against $10,000 XRP Predictions
Bullish price predictions around XRP have emerged at an unusually rapid pace in recent months, especially as exchange-traded funds and institutional participation are now an important part of discussions with investors.
Related reading
Social media platforms are now filled with ever-increasing targets, ranging from triple-digit valuations to extreme asks for four digits and even five-figure prizes of $10,000. Just a few years ago, you wouldn’t have believed that such XRP price predictions would be so widespread.
In one recent music video Mason Versluis circulated within the crypto community and gave an unusually blunt assessment of the $10,000 predictions for the altcoin. He dismissed the figure outright, noting that such price targets shouldn’t even be part of current talks.
According to Versluis, anyone who aggressively promotes these figures is doing a disservice and misleading investors. His argument is based on the fact that XRP has not yet demonstrated the ability to rise above much lower price levels, making five-figure projections that are disconnected from current conditions.
A closer look at the circulating supply of XRP explains why the $10,000 forecast raises doubts. XRP currently has a circulating supply of approximately 66 billion tokens with a market capitalization of $141.9 billion. Therefore, calculations based on current circulating supply would imply a market cap of roughly $660 trillion if the altcoin reaches $10,000, which is much larger than the current market cap. top 100 assets by market capitalization combined.
To put this into context, gold currently has a market cap of about $31 trillion. The most realistic way for the token to reach $10,000 is for the circulating supply to decrease significantly.
Bullish Bias exists, but it is built around progression
According to Versias, reaching $10,000 for XRP is not entirely impossible. However, the world has only seen about 2% of the changes that would be necessary for XRP to approach a valuation of $10,000.
Related reading
XRP hasn’t even reached $10 yet, let alone maintained it. For any outstanding price levels to materialize, XRP would first have to get above the double digits of $10 and stay above that. From here, discussions about $50, $100 or higher only become meaningful after XRP has proven its strength at each previous level.
Despite the criticism, Versluis made it clear that his view on XRP is not bearish. He acknowledged that this has made his position increasingly optimistic developments such as ETF momentum, DeFi activity and institutional involvement around XRP and the XRP ledgercontinues to improve.
Featured image from Adobe Stock, chart from Tradingview.com