XRP YouTuber Moon Lambo has hit out at those who believe that the XRP price could be worth $20,000 in the future. The analyst believes that this price level is unattainable for the crypto token as he highlighted reasons why he holds this belief.
Why The XRP Price Cannot Rise To $20,000
In a video on his YouTube Channel, Moon Lambo explained that XRP’s market cap will need to run into quadrillions of dollars if it were to achieve that price level based on its current market cap. However, from his calculation, there is not enough money in the world for such an occurrence, as at least $100 trillion will need to flow into the XRP ecosystem for that to happen.
According to the YouTuber, there is a “0% chance” that this will happen. He dismissed any argument that some assets could be sold off to fund this amount of inflows into the XRP ecosystem. This is unlikely to happen as those assets will need to go to zero to get the amount of liquidity needed to get the XRP price to $20,000, Moon Lambo argued.
XRP being worth that amount would also mean the crypto token having a market cap worth over ten times more than the value of the US stock market. Moon Lambo says that it is “utter nonsense” to think that this will happen. He believes there is no way that XRP can be more valuable than all the foremost companies in the US put together.
He also alluded to arguments that XRP can attain this price by becoming the currency for the global reserve. He says that swapping out the dollar, which currently accounts for a huge chunk of the global reserve, won’t still see the crypto token get the required liquidity to hit $20,000.
Enough Reason To Still Be Excited As An XRP Holder
Despite his stance, Moon Lambo is still bullish on the XRP price. He stated that the crypto token doesn’t need this “crazy hype nonsense” for one to be excited as an XRP holder. The crypto analyst believes that as far as XRP is widely adopted, there is enough money that can flow into it, which could cause its price to hit three digits.
Unlike a price prediction of $20,000, XRP’s price hitting three digits is still within the “realm of possibilities.” However, Moon Lambo doesn’t see that instantaneously happening as he says that it could take “many market cycles.” The good news is that anyone who has been in on XRP for some time is already well-positioned for such a multiplier effect.
Meanwhile, analysts who have in the past made such “impossible” price predictions of $20,000 were not spared in the crypto analyst’s rant. Moon Lambo mentioned that such people only make baseless claims and do not provide justification for such assertions.
He provided insight into why these analysts make such predictions as he suggested that they were doing this to get more audience. He remarked that he would probably get more subscribers if he jumped on this “bandwagon.” However, he has no intention to do that as he says it will be “intellectually dishonest” to do that.