Market commentator explains reasons why he is confident XRP will reach $100, citing BTC history

The moderator of 24HrsCrypto, a media account run by the XRP community, has laid out the reasons why he is confident that XRP would reach $100, drawing on the history of Bitcoin (BTC).

Several figures from the XRP community suggest that XRP is capable of conquering the $100 price zone. The ambitious nature of this forecast has not deterred these individuals. Former Ripple developer Matt Hamilton said last June that he sees no reason why XRP cannot reach $100 at some point in the future.

Also, former Ethereum advisor Steven Nerayoff It has been agreed that XRP can reach $100. The moderator of the 24HrsCrypto media account is the latest to express confidence in this milestone. However, to make his forecast more credible, he gave several reasons.

The reason for this lies in Bitcoin’s evolution over the years. The analyst shared with X today a price chart from CoinMarketCap (CMC) that details the price of BTC 13 years ago. Notably, on September 22, 2010, Bitcoin changed hands at $0.0602 with a volume of $11,538.

Like it or not, #XRP will hit $100.

1000% #BTC

Fees rise to over $10-$35
Transactions take over 48 hours.
Still no acceptance worldwide.
BTC is bad for the environment

This thing went from $0.01 to $69,000?!
OK.
Goodnight 🫶🏻#XRPCommunity #XRPArmy pic.twitter.com/uFycO0RG1Y

— 𝟸𝟺𝙷𝚁𝚂𝙲𝚁𝚈𝙿𝚃𝙾 (@24hrscrypto1) November 18, 2023

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The asset traded at this price exactly four months after Laszlo Hanyecz paid 10,000 BTC tokens for two pizzas from Papa John’s May 22, 2010. This historical context sheds light on Bitcoin’s journey from a nearly worthless coin to an asset with a current value of over $36,000.

The CMC chart suggested that BTC has an all-time appreciation rate of 58,925,325%. The moderator of the 24HrsCrypto channel sees no reason why XRP cannot see similar gains in the future. This reasoning serves as the basis for his $100 price prediction for XRP.

Bitcoin technology compared to XRP

The market commentator compared Bitcoin’s technology to the XRP Ledger‘s (XRPL) to highlight the superiority of XRPL. He noted that fees for Bitcoin can rise to between $10 and $35. However, for XRP, the average transaction cost is $0.0002.

He also claimed that Bitcoin transactions could take over 48 hours to clear. While the actual average time for a Bitcoin transaction is 10 minutes, it is still much longer than an XRP transaction, which typically takes two to eight seconds to complete.

He also claimed that Bitcoin lacks global adoption, a claim other analysts have disputed given the rise institutional interest in the asset. Nevertheless, XRP is also experiencing similar interest, particularly due to its attractiveness as an efficient means of transferring value at home and abroad international.

The analyst also pointed out the environmental impact of Bitcoin mining, while XRP maintains its status as one of the most environmentally friendly assets. In his opinion, if BTC could rise from $0.0602 to $35,000 despite its shortcomings, XRP would have the opportunity to rise from $0.60 to $100.

However, this should not serve as financial advice as the crypto market remains unpredictable and there is no guarantee that XRP can achieve this goal. Notably, a few people pointed out the difference delivery as a barrier to a similar rise in XRP price.

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Disclaimer: This content is for informational purposes and should not be considered financial advice. The views expressed in this article may contain the personal opinion of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic assumes no liability for any financial losses.

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