Ripple Unveils New Stablecoin – Is a $100 XRP Price Possible?

Reports indicating that Ripple Labs is preparing to introduce its own US dollar-pegged stablecoin have not resulted in a sustained increase in the price of XRP (XRP).

The XRP token, associated with the XRP Ledger established by Ripple Labs in 2012, was last recorded at $0.587.

This positions it nearly 7% lower for the week and over 20% down from the highs reached in March 2024.

Ripple’s CEO Brad Garlinghouse stated that the company’s entry into the $150 billion USD stablecoin sector does not signify a retreat from its goals to expand its XRP-powered on-demand liquidity service. Instead, Garlinghouse emphasized that a Ripple stablecoin would serve as a supplementary offering.

Regardless, XRP investors appear to be largely indifferent to the announcement.

The prevailing issue for XRP continues to be the SEC’s efforts to categorize it as a security issued by Ripple.

Following some legal victories for Ripple in 2023 that briefly elevated XRP, momentum has since stalled this year.

Nevertheless, long-term price forecasts remain optimistic, particularly for technical reasons.

XRP Price Prediction – Is $100 Within Reach for XRP?

A long-term evaluation of XRP’s price indicates that it has developed a pennant formation over the past four years.

A long-term evaluation of XRP’s price indicates that it has developed a pennant formation over the past four years. / Source: TradingView

A downward breakout could lead to a decline back towards the 2022 lows below $0.30. However, in a bullish market context, the potential for upward price movement appears more significant.

A breakout above the pennant structure could enable XRP to quickly revisit its 2021 highs near $2, which could represent a fourfold increase for XRP.

While not out of the question, achieving a $100 token price in the current bull market seems unlikely.

This would necessitate a 170x increase, pushing XRP’s market capitalization above $5.5 trillion, which exceeds Bitcoin’s current market cap by more than four times.

Moreover, XRP does not possess the same level of adoption as Bitcoin, nor does it have a similarly robust adoption outlook as BTC.

XRP Alternative to Consider – 5thScape

Investors exploring altcoins may want to consider a different high-risk, high-reward investment approach: presale investing.

Analysts at Cryptonews dedicate considerable effort to analyzing the presale market in search of promising opportunities.

One potential frontrunner they have identified is 5thScape, a pioneering crypto-powered VR/AR initiative that has raised nearly $4 million in its presale.

5thScape positions itself as the first mixed-reality platform in the VR/AR space, aiming to transcend boundaries through the integration of crypto tokenization to enhance the reward experience.

Operating on the Ethereum network, 5thScape will utilize Skale Network Layer 2 technology to facilitate the necessary scaling for gaming and other virtual world endeavors.

To ensure optimal performance, virtual reality and augmented reality also require high-quality hardware. Therefore, the 5thScape team plans to develop the VR Ultra headset and the Swiftscape VR chair to maximize comfort and ergonomics, delivering an immersive experience with accurate motion tracking and intuitive controls.

The funds raised during the presale will support the completion of hardware development and manufacturing, as well as the establishment of the decentralized network infrastructure.

Our presale has surged past stage 3!

Join us now and delve into a world of virtual reality with our multi-utility token.

Don’t miss out on being part of our vibrant community! #cryptocrash #cryptocrash #Wormhole #cryptocurrency #5thScape #Presale #4thstage pic.twitter.com/QeznEVAvFJ

— 5th Scape (@5th_scape) April 4, 2024

With a price of just $0.00285, significantly lower than the token’s anticipated launch price of $0.1, investors who participate now can secure potential gains of 250%.

Considering its total token supply of 5.1 billion, those who invest at this stage are effectively entering the project at a market cap of $52.1 million.

However, 5thScape has the potential to emerge as a significant market leader in its VR/AR segment. There is a reasonable possibility that it could eventually achieve a market cap of $500 million.

This implies that early investors could potentially realize gains around 1,000%.

5thScape underwent an audit by Coinsult, which found no major issues with its code. Additionally, the project has completed full KYC verification through SolidProof; the team passed the KYC process on January 3, 2024.

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