Crypto analyst Costa has made an ultra-bullish prediction for the XRP price, stating that it could reach $473,214. He explained that such a massive price surge could happen thanks to tokenization on the XRP Ledger (XRPL).
XRP Price To Reach $473,214 If This Happens
In an X post, Costa predicted that the XRP price would reach $473,214 if 10% of global assets got tokenized onto the XRPL. This followed Ripple’s statement that 10% of global assets are expected to be tokenized by 2030. The analyst expects these assets, which amount to $50 trillion, to be tokenized on the XRP Ledger.
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Costa declared that the amount of inflows and utility will most definitely cause the XRP price to skyrocket. He also noted that a potential supply shock will push the altcoin higher. Meanwhile, the analyst alluded to a market cap multiplier to explain how the price increase will happen. He stated that for every 10 billion of inflows, XRP will increase by 516x, moving the altcoin’s market cap to $5.3 trillion.
Costa then broke down the calculation for how the XRP price would reach $473,214. He divided $50 trillion, which represents 10% of the global assets, by $10 billion, which is the amount he projects as the inflows. The division amounted to $5,000, which he then multiplied by the projected $5.3 trillion market cap, leading to $26.5 quadrillion.
The analyst noted that dividing the current supply by this will result in an XRP price of $473,000. However, Costa admitted that these projections are simply hypothetical and that there is no 100% guarantee of 10% of the global assets being tokenized on the XRP Ledger.
XRP Still Expected To Rise Higher
The XRP price is currently on a downtrend, but is still expected to witness a bullish reversal and reach new highs. Crypto analyst Matthew Dixon noted that the price is expected to surge soon above the highs previously recorded this year. He noted XRP’s pattern is currently corrective and should resolve higher, especially with the softening of monetary policy.
The Fed is expected to make a 25-basis-point (bps) rate cut at the next FOMC meeting, which is bullish for the XRP price. This could inject more liquidity into the altcoin’s ecosystem and serve as the catalyst for the next leg up. Crypto analyst Egrag Crypto predicted that the XRP price could rally to as high as $6 soon enough. However, he warned that the altcoin needs to hold above its current range as it prepares for this major breakout.
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At the time of writing, the XRP price is trading at around $2.81, down in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
