Armando Pantoja (@_TallGuyTycoon), a prominent cryptocurrency expert, recently revisited price predictions for four top cryptocurrencies.
Pantoja shared a screenshot of Wall Street Journal’s predictions, showing Bitcoin at $183,587, Ethereum at $17,032, XRP at $1,046, and Litecoin at $982.
Pantoja was specifically interested in XRP. The resurfacing of this prediction sheds light on the dynamic and speculative nature of cryptocurrency valuations.
Few remember that in 2017 the @WSJ predicted $XRP to $1000. Back the we didn’t talk much about “market cap” as a limiting factor.
That’s relatively new in crypto, brought in by stock market traditionalist to scare you away. pic.twitter.com/au6odwEgnO
— Armando Pantoja (@_TallGuyTycoon) January 8, 2025
In 2017, cryptocurrencies were experiencing unprecedented growth, fueled by increased mainstream interest and speculation. XRP, like other cryptocurrencies, saw a significant price increase, eventually peaking at $3.84 in January 2018.
Pantoja highlighted an intriguing dynamic that has changed in the market and price predictions. Pantoja stated, “Back then we didn’t talk much about “market cap” as a limiting factor.”
The Debate About XRP’s Market Cap
XRP is currently trading at $2.32, with a market cap of $134.02 billion. If the asset maintains its current circulating supply of 57.44 billion tokens, a pride of $1,046 would send its market cap to $60.08 trillion. Some analysts have projected lofty targets of around $3 trillion, but this level eclipses those by a wide margin.
Critics of overly optimistic predictions often cite market cap as a limiting factor, arguing that extreme price targets would require valuations that rival the economies of the entire world.
Many of these detractors have criticized high targets for XRP. As the entire crypto market is currently valued at $3.29 trillion, they believe reaching such a high market cap is infeasible.
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However, in 2017, discussions around market capitalization were less prominent, and the focus was often on adoption potential, partnerships, and technological advancements. XRP’s valuation was frequently tied to its utility in facilitating cross-border payments, a market that remains a core focus for Ripple.
Will the Market Cap Limit XRP’s Growth?
The cryptocurrency market entered a phase of maturity in 2017. XRP, in particular, has faced challenges, including a high-profile lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). Despite these obstacles, XRP maintains a notable presence in the market and remains a widely traded asset.
Following XRP’s rally of over 300% in November, discussions about its market cap have dwindled. Less than a year ago, many detractors did not believe that XRP could reach $1, but in December 2024, it crossed $2 for the first time since 2018.
A veteran analyst recently said XRP could reach a $502 billion market cap. If the market keeps growing at its unprecedented pace, XRP could hit even higher prices sooner than its community members expect.
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The post When Wall Streets Journal Says XRP Will Hit $1000 appeared first on Times Tabloid.
