- Moonchaser, economist and former Forex analyst, states XRP reaching $100,000 is unrealistic.
- XRP’s price is influenced by supply, demand, and liquidity, similar to other currencies and cryptocurrencies.
- Market capitalization is explained as the product of price and circulating supply.
- XRP’s price is currently around $2.40, down nearly 17% in the past month.
- Ripple’s token is unlikely to surpass Bitcoin or achieve extreme price targets based on measurable market data.
A leading economist and former forex analyst, Moonchaser, has stated that it is unrealistic for Ripple’s native token, XRP, to reach $100,000. She explained this while addressing traders who have high price expectations for the cryptocurrency.
The analyst noted that XRP’s price, like any currency or cryptocurrency, is driven by supply, demand, and liquidity in the market. She highlighted that market capitalization is simply the current price multiplied by the circulating supply, defining it as a measure of total market value.
Comparing XRP to the US dollar, she pointed out that the dollar’s value changes daily based on the balance of supply, demand, and liquidity. She reminded traders that “Currency does not mean a capless asset.” This principle also applies to XRP, which must adhere to market rules and structures.
Moonchaser added that despite claims in the XRP community about the token not having a market cap, it still operates within the same market framework as other financial assets. She said XRP’s price depends on measurable data rather than hype.
Currently, XRP is trading at about $2.40, a nearly 17% decline over the last month after previously reaching an all-time high near $3.65. The token is experiencing mostly bearish sentiment. She also emphasized that XRP is unlikely to surpass Bitcoin in market value.
For more on how currency values fluctuate, see the US dollar value changes. Click here for XRP price.
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