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XRP Price Won’t Hit $10 But This New Coin Will

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As an asset class that has been around for only a few years, cryptocurrencies have surely influenced the way we look at financial authority today. There have been huge expectations when it comes to the decentralization factor of crypto. But has Defi, or Decentralized Finance really managed to become a reality today? Why is it that a Defi project as massive as XRP still looms at lower price levels when it has the potential to soar already? Read on to know why XRP’s Price won’t hit $10, contrary to its community’s ambitions.

Before understanding where XRP falters and what factors stand as obstacles to a parabolic run for the project, it is important to know more about it and the concept it is built around.

What is XRP?

Launched as early as 2012, Ripple was one of the first cryptocurrencies created that is considered to be among the most popular options today. It was built by Chris Larsen and Jed McCaleb with an ambition to aid in the revolution of finance as we see it today. XRP is a payment settlement system and currency exchange network that is operated by Ripple, which is the company behind the token.

XRP will not reach $10

 

In actual terms, XRP is an open-source, permissionless and decentralized technology. Since the network can quickly confirm that the exchange went through properly, it acts as a trusted intermediary between parties in a transaction. Fiat currencies and cryptocurrencies like Bitcoin and Ethereum can be exchanged easily through Ripple. Naturally, a project like this took no time to grow in value.

The fundamentals behind XRP were excellent and had some of the best companies in the space interested. Infact, XRP was the top-grossing crypto in the early 2018 market boom, when it reached its all-time high of around $3. The crash that followed, however, was steep and went on to consolidate in the $0.4 level for three years before it started moving again in 2021.

Despite the bull run, XRP was not able to regain its all-time high or make it to the top as it did back in 2018. However, there was a reason for the prices being stunted even with a strong product, which we will take a look at further along. First, let us see why Defi as a term is being used nonchalantly in the industry and how it is impacting the concept negatively.

Defi and its shortcomings

Decentralized Finance, as the name suggests, aims to eliminate any central authoritative figure in financial transactions. But it also means no control over the functioning even if there is a risk of the whole ecosystem crashing.

In short, Defi promises to create a setup, where users decide the fate of the respective platforms. DAOs or Decentralized Autonomous Organizations can also be integrated, wherein these users can vote about making changes regarding the future of the ecosystem.

However, things didn’t go by definition the space. As the bear market kicked in, a huge number of Defi organizations started facing several financial issues. This was caused by a lack of interest or engagement for investors primarily. At one point, some projects ran the risk of completely going bankrupt if even a single investor with a massive amount in the platform decided to withdraw funds.

best DeFi coins

This is where the contradiction of values and necessary actions came in. Developers of projects would be forced to take extreme measures to sustain their business, which is the Defi platform. However, these measures coming from the developers would simply be their own decisions, making the entire decentralization concept look futile. This enraged the community, as the 2022 crypto winter ensured that it wasn’t an isolated incident.

Naturally, the idea of a truly decentralized platform at the moment was wiped off from the minds of several investors. This contributed to the stagnancy in XRP prices since the project was hailed as one of the biggest within the defi space. Investors of the XRP community still managed to be bullish about the project with hopes of seeing the token at around $10.

But this wasn’t all; there were other major issues within Ripple that barricaded the token’s potential pump.

Reasons that stop XRP Price from reaching $10

SEC BAYC

Ripple was sued by the SEC in late 2020, over accusations that Ripple raised over $1.3 billion through illegitimate means. According to the SEC lawsuit, XRP is a security in the cryptocurrency market and not a cryptocurrency. Although this was contested by the latter, the case ensured that XRP got media attention which converted to bad press. While there were supporters, the project gained much criticism, which created scepticism among investors.

Another major reason is the current market condition. Currently, XRP is trading at around $0.5 with a market cap of around $25 billion. Ideally, for the token to be worth $10 with the current token supply, it would require a market cap of about half a trillion dollars, which is even more than BTC’s current valuation. While it may be a possibility going forward, expecting such a move from XRP at this point may not be feasible.

 

An excellent alternative to XRP- Calvaria

Reviewing everything said above, it is evident that Defi or a project as old as XRP with such issues may not perform as well as expected. Thus, an alternate promising option can be considered One that may be in its early phase; in the Defi domain, but with something that adds more value to it and something that is in high demand.

Calvaria

All of these boxes can be ticked off if one considers investing in Calvaria. Announced recently, the project is yet to take off completely and boasts a small market cap. This can mean heavy returns if the project holds any potential.

Well, the potential Calvaria holds too is nothing short of surprising. It is a culmination of Defi and Gaming and intrigues gamers as well as those who are active participants in the defi space. As an excellent means of passive income, Calvaria is a P2E NFT card game that is based in a mythical setting.

To learn in detail about this project, read this article.

RIA, which is the native token of the Calvaria ecosystem is currently in its presale phase and has been selling out at a tremendous speed. It has managed to raise RIA tokens at such a speed, that the project is already in stage 4 of its presale. Likely to end before the scheduled date, the Calvaria presale may be an excellent option for someone looking to bag exceptional returns.

As a project with strong fundamentals, a newly released concept, large community and a small market cap, it will be very likely that RIA tokens may reach or rise above $10 in the upcoming days.

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