"XRP will rise to $500 with a $5 trillion inflow"

Crypto Tank, which has gained a place in the XRP community, insists that the popular cryptocurrency will reach three digits.

While the rise in the crypto market continues, the stagnation of XRP, one of the major altcoins, has drawn attention. XRP, under pressure due to the legal tension between SEC and Ripple, has disappointed its investors. Many crypto investors believe that XRP will drop out of the top 10 (in terms of market value) in the near future.

Crypto analyst Crypto Tank attracted intense interest with the post he made on X the other day. The post, which was viewed by approximately 200 thousand people and liked by over a thousand people, included striking comments about the XRP price.

I'm getting a lot of comments about XRP price and why it's not moving so let me explain once more how XRP price is determined for the new people to this space and those that still have trouble understanding🧵

— CryptoTank (@Tank2033js) October 13, 2024

Important details about XRP

Crypto Tank commented on why XRP price did not accompany the crypto rally. The analyst, who maintains bullish sentiment, made a surprising prediction.

The analyst, who stated that he received questions about the price of XRP from the community, expressed that he maintains his target price of $500. Crypto Tank claimed that major financial institutions will contribute to XRP and that many global companies will soon use XRP as a payment tool.

The analyst noted the following;

“Banks and financial institutions will have their own tokens or CBDCs. They will match them with RLUSD (Ripple Ledger's stablecoin) and transact. XRPL has an algorithm that seeks the best liquidity path/source to complete a transaction.“

Crypto investors criticized the forecast that XRP could reach $500. Investors argued that the mentioned increase would never happen.

For the analyst's price prediction to come true, XRP will need to show a 92,992% increase. In this case, the market value of XRP will be 28.3 trillion dollars. As is known, BTC is the leading cryptocurrency with a market value of 1.271 trillion dollars.

An analyst stated that discussions regarding circulating supply are irrelevant. The analyst, who claims that XRP's circulating supply is not 56 billion, argued that due to the influence of whales and private wallets, the circulating supply has dropped to 10 billion XRP.

The analyst said as follows;

"To determine the price that XRP should be, you take the 5 trillion dollars from global companies and divide it by the 10 billion XRP in the pools on the Ledger. According to the mentioned mathematics, the price of XRP should be 500 dollars."

This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research when making decisions.