Steven Nerayoff, one of Ethereum’s former advisors, made comments about the price of XRP. After the news from the SEC lawsuit, price predictions for XRP have increased. While most of these predictions were higher than expected, a large portion of them were in the direction of an increase.
In a recent discussion, Nerayoff stated that XRP cannot have any price ceiling due to its unique use case, unlike other cryptocurrencies.
The Limitless Price of XRP
Famous figures also intervened in the case between Ripple and SEC, which has been going on for a long time since the emergence of XRP. As a result, Ripple and XRP gathered a large number of supporters. One of these famous figures was Steven Nerayoff, who is known for his consultancy to Ethereum and previously stated that there were difficulties in SEC’s relationship with Ethereum.
Nerayoff’s latest comment on XRP came in response to a user on XRP. He answered the question of a user who was curious about the potential price of XRP, whether it can exceed $10 and potentially rise up to $100.
In his response, Nerayoff stated that if Ripple meets the necessary conditions, XRP cannot have a price ceiling and can exceed $100. Nerayoff also admitted that answering this question is not as easy as it is thought.
This statement was made while explaining the parallel structure between XRP and the US dollar. According to Nerayoff, similar to the US dollar, the price of XRP may become insignificant and its value may not be measured by its price in the future.
The purpose of XRP, created by Ripple, is to provide fast and low-cost payments worldwide. If the need for banks increases and payment providers adopt Ripple’s solutions, demand for XRP can rapidly increase.
This scenario could pave the way for XRP to potentially become a global reserve currency. It is also believed that SEC may have targeted Ripple and XRP due to this potential.
Current Status of XRP Price
Nerayoff is not the first person to claim that XRP will be a reserve currency. At the time of writing this article, when the price of XRP is examined, it has experienced a 5.85% increase over the past 7 days. When examined annually, it is traded at $0.546 with a price increase of 61.25%.
Crypto analyst ERGAG CRYPTO recently made a price prediction for XRP. The analyst stated that the price of XRP will increase 40 times from its current level and reach $27. In a report by the famous analysis firm Messari, it was stated that the DEX volume on the XRP Ledger increased by 390% in the last quarter.
