Steven Nerayoff, one of the earliest advisors for Ethereum, has added his two cents to discussions regarding XRP price. Many predictions have come in recent months on XRP’s future price trajectory. Most of these predictions have been bullish, although some more than others. In a ...
He also stressed the significance of Ripple’s foothold in a “network effects” model on XRP, stating that the cryptocurrency has the potential to become a reserve currency.
Nerayoff: XRP Has No Price Ceiling
Nerayoff’s recent stance on XRP came as a response to another XRP enthusiast asking for his opinion on whether XRP could spike above $10 possibly up to $100.
Do you think xrp has a bright future? and by bright future I mean can it get above $10 possibly upto $100? I’d take your opinion on this over anyone’s currently.
— SelectiveDetective (@Selective_D_) October 26, 2023
In his reply, Nerayoff noted that XRP could surpass the $100 price point as it has no price ceiling if Ripple can win in a “network effects” model.
I believe XRP has no ceiling if they achieve their objectives. It’s not a simple response but I’ll give a high level take. Usually a lower XRP price would make their offering more attractive. However, @Ripple is clearly the odds on favorite to win in a “network effects” model.…— Steven Nerayoff (@StevenNerayoff) October 27, 2023
Nerayoff admitted that it is difficult to provide a simple response. Predicting any crypto’s price is challenging, but Nerayoff is confident in XRP’s long-term potential.
He made this exclamation while drawing parallels between the cryptocurrency and the US dollar. Like the US dollar, XRP’s price could become irrelevant in the coming future, as investors would be focused on its necessity.
XRP was designed by Ripple to facilitate lightning-fast, low-cost payments across borders. As more banks and payment providers adopt Ripple’s solutions, demand for XRP will skyrocket.
XRP Price Outlook
State of XRP Ledger Q3’23
-US courts ruled that XRP is not a security -XRPL DEX volume was up 390% QoQ -Added programmability is coming to the XRPL and its broader ecosystem pic.twitter.com/DWzOTkqAQM— Red (@redvelvetzip) October 27, 2023
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