Pundit Says XRP Price At $100 Is Not Insane If You Understand This

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Crypto pundit Bird has explained why an XRP price target of $100 is not “insane” when one understands what the XRP Ledger (XRPL)can do. He highlighted how the network could dominate tokenization and on-chain settlement, causing trillions of dollars to flow through the XRPL.  Why An XRP Price Target Of $100 Is Not “Insane”

In an X post, Bird indicated that an XRP price rally to $100 could happen due to the XRP Ledger’s capabilities and the network’s potential to dominate several crypto sectors. He noted that the XRPL can tokenizereal-world assets, including asset classes worth trillions of dollars. These include treasury bonds, land, gold, silver, and several global currencies. He added that this is just the surface, as other RWAs will also be tokenized on the network.  Related Reading XRP Price Gears Up For A Major 680% Move Against Bitcoin To Reach $10 1 day ago

Furthermore, Bird also alluded to liquidity pools, locked yield mechanisms, on-chain settlement, and the broader tokenization trend as factors that could spark the XRP pricerally to $100. The pundit added that once these other crypto sectors are factored in, market participants can begin to see what is possible in the hundreds of trillions of dollars. 

The pundit also noted that when real-world value moves on-chain, then networks that handle liquidity efficiently win, which is where the XRP Ledger comes in. “That’s the bigger picture most people are missing,” he added. It is worth noting that the tokenized valueon the network continues to climb. 

RWA.xyzdata shows that the XRP Ledger currently ranks 6th in terms of tokenized value on the network, which stands at $2 billion. This marks a positive for the XRP price, as the tokenization trend could boost XRP’s utility, thereby increasing demand. Meanwhile, like Bird, crypto pundit Austin also mentioned that a $100 target for XRP is not “crazy.” XRP Is Eyeing A Bullish Reversal

In an X post, crypto analyst Egrag Crypto revealed that the XRP price is pushing above the 200 EMA, which could lead to a bullish reversal. The analyst stated that if XRP gets a weekly close above the 200 EMA and $1.55, then the short-term strength increases and momentum shifts. However, if the price remains inside the descending channel, then the broader structure remains corrective.  Related Reading Why XRP Is Being Hailed As The Top Trade Over Bitcoin And Ethereum 2 days ago

For now, the key levels to watch for the XRP price are the $1.55 reclaim, which signals short-term strength, and the $2.20 weekly close, which would signal a bullish expansion. On the other hand, a rejection below $1.55 could lead to a sweep toward $1.26, putting the macro supports at between $0.95 and $0.85 on the cards. 

At the time of writing, the XRP price is trading just around $1.41, up over 4% in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $1.41 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Freepik, chart from Tradingview.com