XRP explodes: Will 500,000 new millionaires emerge?

XRP is currently trading at $2.20, down 1.7% in the last 24 hours and about 3.4% over the past week. However, the long term outlook seems brighter as this altcoin has increased by more than 300% over the past year. While some experts have made unrealistic predictions that the price will reach $1,000, others still have varying opinions on how high XRP will go.

According to a viral post on X, Chris Larsen – co-founder of Ripple owns about 2.7 billion XRP. If XRP reaches $1,000, his net worth could skyrocket to $2.7 trillion. This would make him the first trillionaire in history, surpassing Elon Musk and Jeff Bezos.

But Larsen will not be the only one on the list of the wealthy thanks to XRP. If XRP holders do not sell their coins, it could create new super-rich individuals. There could be about 300 to 500 new billionaires, 10,000 people with over 100 million dollars, 100,000 people with over 10 million dollars, and around 500,000 new millionaires.

What does XRP need to rewrite financial history?

However, many people believe that this is extremely unlikely to happen in the short term. XRP would need to increase nearly 50,000% to reach $1,000. Some experts like Matthew Brienen and Patrick Bet-David believe that this could happen due to the role of XRP in global payments. However, it is questionable whether it can reach that level or not, even in 25 years.

If XRP reaches $1,000 with a current supply of around 58.4 billion tokens, the total market value will be around $58.4 trillion. That's much larger than the value of gold (khoảng $22.4 trillion la), Apple (khoảng $3 trillion la), Bitcoin (1.7 trillion dollars la) and the entire crypto market (2.7 trillion la). XRP will be worth more than all of these assets combined, showing how unlikely that price is.

XRP price prediction (short term)

XRP is currently trading at $2.2. Most oscillators are neutral, with only momentum showing a buy signal. All short and medium-term moving averages indicate sell, except for the 200-period EMA. The price has recently recovered from a low of $2.07, but has not been able to break the resistance at $2.27.

XRP Price Chart | Source: TradingviewThe key support levels to watch are $2.22, $2.07, and lower zones around $1.92, $1.85, $1.61. Although the price is facing some downward pressure, increased trading activity and liquidations in the derivatives market indicate the possibility of an upcoming recovery.

XRP won't reach $1,000 or even $100 anytime soon. Some people say that $4 or even $10 may be feasible, but $1,000 is impossible. In addition, there is always an unanswered question: "What will happen if Larsen decides to sell in bulk?" That can cause the price to drop quickly and create a lot of chaos in the market.

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