- Tristan Tate triggered discussions around XRP sparked engagement from the Ripple community, including responses from prominent figures.
- Proponents like Abdullah Nassif and Edo Farina underscored XRP’s benefits, including its speed, cost-effectiveness, and scalability over Bitcoin.
Social media personality Tristan Tate, boasting 3.3 million followers on X, has reignited the debate around XRP’s future. On Tuesday, he took to X and asked a question that quickly made its way viral: Why do some believe XRP could explode into triple digits?
XRP Price In Spotlight With Tristan Tate’s Comment
His post gained over 3 million views with mass engagement by the XRP community. Many users stepped up to give their best answers as to why the token could gain such prices, and prominent crypto players gave their take on the matter.
Panos Mekras, a well-known crypto author and co-founder of Anodos Finance, responded to Tate, particularly emphasizing the importance of the XRP Ledger. He described it as the “OG DeFi chain” and highlighted how it happened to be the first blockchain in existence to actually function with no proof-of-work consensus mechanism.
As noted by Mekras, XRPL was built without banks’ intermediation in a transaction, thereby being the perfect alternative to Bitcoin. “It’s faster, cheaper, and more decentralized money,” he explains. He added that the network was the first to introduce global decentralized exchange along with tokenization and advanced payment solutions. However, earlier this week, XRP Ledger faced a brief outage, as reported by CNF.
One such response came from Abdullah Nassif, who goes by the handle of Abs in the XRP community. He said XRP will revolutionize how money moves. Nassif noted that “XRP makes money move for the banks as quickly and easily as data moves on the internet today.”
Further, crypto educator Edo Farina added his input by comparing XRP’s cost-effectiveness compared to Bitcoin. He postulated that XRP has 1,000 to 1,500 times the cost, speed, and scalability advantages over Bitcoin. To him, Bitcoin has resulted in increased centralization over mining, through which power is centralized in a few major pools. Farina even referred to Bitcoin as a “beta test coin,” saying that XRP is the “Final Product.”
As the debate continued, Vet, one of XRP’s validators in XRPL, also extended an invitation to Tate on his podcast to discuss more deeply the potential that XRP holds.
Critics Slams Ripple Token’s $100 Target
While many XRP price supporters were making their case for a $100 target, skeptics were quick to push back. An X user by the name of “Mr. Random” responded to the argument with a market cap analysis. He pointed out the sheer scale required for such a valuation and explained that in order for XRP price to hit $100, its total market capitalization would need to be greater than $5 trillion-or possibly $10 trillion when accounting for escrowed tokens.
He mentioned that “surpassing the economies of major nations is unrealistic,” and he emphasized the economic obstacles that such a price would face. Expanding his argument, he mentioned how inappropriate it is to consider the probability that XRP price will achieve $10,000, considering the required $500 trillion market cap. Despite all these, advocates still challenge the relevance of market cap constraints over the token’s potential.
As of press time, the XRP price is trading 5.98% down at $2.47, with its daily trading volume dropping under $10 billion. However, analysts continue to stay bullish about XRP rallying to $6 and beyond, as per our previous analysis.
