XRP Price Prediction as Ripple Announces New Stablecoin – Can XRP Reach $100?
News that Ripple Labs is set to launch its very own US dollar-pegged stablecoin has failed to give the XRP (XRP) price a lasting lift.
XRP, which is the token of the XRP Ledger launched by Ripple Labs in 2012, was last at $0.587.
That leaves it down close to 7% for the week, and over 20% since 2024 highs printed in March.
Ripple’s CEO Brad Garlinghouse said the firm’s shift into the $150 billion USD stablecoin market didn’t mean it is giving up on its ambitions to grow its XRP-powered on-demand liquidity product. Rather, a Ripple stablecoin would act as a complementary product, Garlinghouse noted.
Either way, XRP investors don’t seem to have been too fussed by the news.
The dominant theme for XRP remains the SEC’s battle to classify it as a security issued by Ripple.
After some legal wins for Ripple in 2023 that momentarily boost XRP, momentum has stagnated this year.
But long-term price predictions remain bullish, not least for technical reasons.
A long-term assessment of the XRP price suggests it has formed a pennant structure in the last four years.
A downside breakout could trigger a drop back towards 2022 lows under $0.30. But in the bullish market environment, upside price risks seem greater.
A break to the north of the pennant structure could see the XRP price quickly retest its 2021 highs around $2. That could mean 4x gains for XRP.
While not impossible, reaching a $100 token price during the current bull market seems far-fetched.
That would require a 170x rally, taking XRP’s market cap to above $5.5 trillion. That’s over 4x Bitcoin’s current market cap.
And XRP doesn’t have even close to the current levels of adoption as Bitcoin, or as strong of an adoption outlook as BTC.
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