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XRP has surged over 400% in value over the past year, trading at approximately $2.65 as of October 29, 2023. This growth puts it ahead of other major cryptocurrencies, with Bitcoin and Ethereum rising by 61% and 55%, respectively, in the same time frame.
Concerns regarding XRP’s future growth include its competition with stablecoins and other cryptocurrencies, as well as potential regulatory hurdles. Analysts like Geoff Kendrick from Standard Chartered remain optimistic, suggesting XRP could surpass Ethereum in value, especially if macroeconomic conditions improve, such as lower interest rates and increased institutional adoption.
However, skepticism exists around XRP’s adoption, given that Ripple’s technology can function without necessarily using XRP, which may limit broader acceptance of the token. Some analysts predict XRP could retrace to between $0.50 and $1.00 by 2030 due to these structural challenges.
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