XRP Reaching $10,000, Here is The Detailed Breakdown

Widely followed crypto commentator Joshua Jake recently commented on the prospect of XRP reaching $10,000 per coin. Jake's commentary responded to a mathematical breakdown by another analyst who attempted to explain why a $10,000 per coin XRP could be a reality someday. Notably, the $10,000 price prediction proponent cited potential ETF approvals for XRP as one of the catalysts that could trigger a price surge. The analysis suggested that XRP could experience a supercycle due to ETFs , institutional adoption, traditional finance (TradFi), and crypto reserves. In this case, the analyst expected XRP to rally up to $100 in the summer. However, as the analysis progressed, Jake added his commentary. He dismisses parts of the argument he considers misconceptions, especially since the video has gone viral. First, Jake stressed that XRP ETFs cannot propel XRP to even $100. ETFs, TradFi, Cannot Send XRP to $100 He noted that if this were possible, the success of Bitcoin ETFs should serve as the benchmark. Specifically, he argued that ETFs should have pushed Bitcoin's price to $1 million per coin, but that remains far from reality. Furthermore, Jake clarified that ETFs primarily open up institutional involvement, leading to increased market-making and higher resistance levels. Even so, pushing XRP to $30 or even $20 would require an extraordinary amount of value. Jake also dismissed the idea that a supercycle for XRP could be triggered by TradFi adoption and crypto reserves. He countered that President Donald Trump signed an order to establish a crypto reserve, but XRP was not even mentioned. While Trump had previously referenced XRP, the final order did not include XRP or any other altcoins aside from Bitcoin. Meanwhile, Jake stressed that even if XRP is later included in the US crypto reserve, it won’t create the supply shock that proponents of ambitious XRP projections discuss. He added that a realistic supercycle for XRP could only bring it to $15. Market Cap Does Matter Jake stressed that while proponents of ambitious XRP predictions often claim market cap doesn’t matter , he argued that it does. Notably, at $100 per coin, XRP's market cap would be $10 trillion. At $10,000 per coin, the market cap would be $1 quadrillion, a value that exceeds the total wealth of the world. As a result, Jake urged enthusiasts to be cautiously optimistic about XRP and not to rely on unrealistic scenarios. Why Banks Won’t Pump XRP to $10,000 The XRP enthusiast made the claim that XRP could skyrocket to $10,000 in a hypothetical scenario where "absolutely every single bank in every single country" uses XRP, and the token is burned from transactions. Jake disagreed with this, pointing out that the market is flooded with competition, and XRP will be just one part of the ecosystem. He also noted that token burns are insignificant as XRP still has approximately 99.98 billion tokens in circulation despite all the burns over the past decade. Furthermore, Jake pointed out that Ripple holds around 40% of XRP's supply. He emphasized that banks won’t pump the price to $10,000 because it would give Ripple too much control, potentially making it a multi-trillion-dollar company. "No bank would want to put themselves in that position," he said. Jake argued that these institutions would instead launch their own blockchain solutions. XRP Sees More Development than Bitcoin and Ethereum? Furthermore, the $10,000 price prediction proponent claimed that Bitcoin and Ethereum are enjoying lofty prices while lacking major developments. However, Jake countered by highlighting Ethereum's crucial development. He pointed out that everything is being tokenized on Ethereum, citing its total value locked (TVL) of $50.75 billion, compared to others that rank far below. Additionally, he mentioned that banks are using Ethereum as the foundational layer for their crypto projects. Meanwhile, the XRP analyst also claimed that Bitcoin is a joke without any use case. Jake countered that Bitcoin is the greatest digital store of value. He also cited its use in the carbon credit market and its adoption by companies like ExxonMobil to reduce energy emissions.  Bitcoin has massive adoption and support from organizations like the IMF and the U.S. government. XRP, on the other hand, is not being adopted on the same scale. Ultimately, Jake clarified that he is not bashing XRP but calling for an open conversation to guide enthusiasts against overly speculative information. "It’s easy to get caught up in hype, but unrealistic expectations about XRP’s price could lead to disappointment," he concluded.