An interesting development is the rumors that are circulating on social media regarding the XRP price and the lesser-known Ripple co-founder Arthur Britto. Apparently, Britto had given an ultra-bullish forecast for the digital asset, with the expectation that it would become valued at five digits. But IS there any merit to these rumors?
A supposed price prediction by Britto is rapidly returning to social media after a well-followed news account posted about it on X (formerly Twitter). In the post, CoinGeek refers to this prediction as breaking news saying that Britto said the XRP price will climb to $10,000.
Other claims include Britto saying that the cryptocurrency is designed to accommodate the needs of 7.5 billion people around the globe. Additionally, the post said the XRP price was designed to cross the $10,000 mark.
— CryptoGeek (@CryptoGeekNews) November 2, 2023
One problem with this forecast is that there seems to be no source behind it. The claims are in abundance, but there is no documented instance of Britto saying that the XRP price will reach that target. In fact, there is little to nothing about Britto online.
Most people only know two co-founders behind Ripple Labs – Chris Larsen and Brad Garlinghouse, without realizing there was a third. However, Britto stays out of the limelight and does not post on his X account despite having over 12,000 followers.
The earliest instance of Britto saying that XRP is designed to reach $10,000 is from a YouTube video from 2019 which claims that Britto made the prediction back in 2017. In the video, YouTuber Mark Collins points to the need for more XRP liquidity to effectively push the price up. “Higher prices equal higher liquidity,” he opined. He also points to the tokenization of all asset classes using XRP which would drive the price above $10,000.
Token price crosses $0.61 | Source: XRPUSD on Tradingview.com
Actual $10,000 Predictions
One crypto analyst has forecasted that the XRP price will actually reach $10,000. Lord XRP, as the pseudonymous analyst is known on X (formerly Twitter), believes that the digital asset can claim this level as it grabs a bigger share of the payments sector through blockchain technology.
The analyst puts XRP in comparison to established traditional payment giants such as Western Union and SWIFT, comparing their market caps. If Ripple is able to capture a larger percentage of the total payments sector which is currently worth around $2.7 quadrillion, XRP price could cross $10,000.
However, not everyone agrees with this assessment as analyst Zach Rector has said this might not be feasible. According to Rector, the only way the XRP price would be able to reach that high is if there were a currency reset and debt restructuring.
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Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.