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- Patrick Riley of Reaper Financial anticipates that XRP will outperform Bitcoin at $22 in the next bull cycle.
- He criticizes Ethereum as a “dying horse” while projecting migration of ERC20 tokens to the XRP Ledger for efficiency and costs.
Patrick Riley, CEO of Reaper Financial, holds nothing back when talking about XRP. In a recent podcast with pro-XRP enthusiast Zach Rector, he threw out a projection that would blow anyone’s mind: 3,510% growth for XRP, reaching $22.
xRP displacing Bitcoin?
Riley’s research leads him to firmly believe that XRP will not only grow exponentially, but is poised to dethrone Bitcoin and take the lead as the leading cryptocurrency in the next bull market.
“What I expect from XRP by 2024, and one of the things I see very realistically during this bull market, is that XRP will overtake Bitcoin as the number one cryptocurrency,” he says confidently.
Of course, Riley clarifies that his prediction does not portend Bitcoin’s failure, but rather anticipates XRP‘s rise in the crypto hierarchy. It’s not a crash, but a takeover.
Ethereum: A Dying Horse?
Riley doesn’t stop there and launches criticism of Ethereum, describing it as a “dying horse” that has struggled for a long time. He echoes JP Morgan’s disappointment with Ethereum version 2, pointing to the network’s high costs and performance issues.
XRP’s Latent Potential and its EVM Side Chain
In contrast, he highlights XRP’s potential, especially with the introduction of an EVM sidechain. Riley predicts that ERC20 token projects will move to XRP’s Ledger due to its faster, cheaper and more functional network.
Tokens with Competent Teams Will Look to XRP
Emphatically, he argues that tokens backed by competent teams will see XRP as an attractive alternative when the EVM sidechain goes live. “I expect a lot of those tokens to migrate to the XRP Ledger. I think Casino Coin was probably a pioneer in doing that. They switched pretty early, but they definitely won’t be the last.”
will XRP Reach $22 or More?
When the host asks Riley to share his price target for XRP in the next bull market, he anticipates that XRP will reach $22 or higher at its next peak. Moreover, he expresses his belief that XRP will maintain a value of more than $10 even during the subsequent bear market.
From XRP’s current market value of $0.6206, a price point of $22 means a growth rate of 3.510%. However, he stresses that his prediction should not be taken as financial advice.
Comments and Market Skepticism
Several commentators have emphasized that XRP is unlikely to reach this price in the next bull market. If so, the token’s market capitalization would soar to $1.18 trillion, far surpassing Bitcoin’s valuation of $839 billion. However, this analysis considers a scenario in which BTC does not appreciate significantly, a highly unlikely outcome.
