CryptoGuard Chief Operating Officer Matthew Brienen has expressed strong confidence in the future of XRP, stating that he believes the cryptocurrency could surge to a high of $1,000. Brienen shared his thoughts during the inaugural episode of the “Ask Matty Show,” highlighting his belief in XRP’s potential as the world’s fourth-largest cryptocurrency by market capitalization.
In a revealing moment, Brienen disclosed that half of his private crypto portfolio is invested in XRP. While he did not disclose the exact quantity of tokens he holds, he revealed that he began accumulating the altcoin gradually starting in 2020.
Short- And Long-Term Strategies For XRP Holdings
Looking ahead, Matthew Brienen outlined his plans for his XRP holdings. In the short term, he intends to sell off a majority of his XRP holdings within the next few years, targeting the 2024-2025 bull cycle as a potential period for profit-taking.
In the long term, Brienen plans to retain a smaller portion of XRP in his portfolio for an additional five to ten years. He is optimistic about the increasing adoption of XRP in cross-border payments, citing the cryptocurrency’s quick transaction speeds of under five seconds and minimal transaction costs as key drivers for future price appreciation.
Forecasts: Reaching $100 Or $1,000
Brienen didn’t shy away from making bold predictions about XRP’s future price potential. He suggested that XRP could reach anywhere between $100 and $1,000 within the next decade. With XRP currently trading around $2.05, achieving $100 would require a substantial increase of approximately 4,770%, while reaching $1,000 would necessitate a significant surge of around 48,600%.
To put this into perspective, an investment of 5,000 XRP coins valued at roughly $10,250 at current levels could potentially be worth $500,000 at $100 prices or an impressive $5 million at $1,000 prices.
Market Cap Expansion Needed for XRP’s Growth
If XRP were to reach $100, its market capitalization would soar to around $5.84 trillion, assuming the circulating supply remains constant. A price of $1,000 would catapult XRP’s market cap to nearly $58 trillion, surpassing the current global economy. While the climb to these levels is substantial, Brienen believes that the $1,000 target is within reach, driven by XRP’s technology and efficient payment processing capabilities.
In conclusion, Matthew Brienen’s bullish outlook on XRP’s future performance underscores his confidence in the cryptocurrency’s potential for significant growth. As the crypto market continues to evolve, only time will tell if his predictions come to fruition.