Patrick Riley, the outspoken CEO of the financial research firm Reaper Financial, made waves recently by sharing some extremely ambitious forecasts for the future price trajectory of XRP, the native token of the XRP Ledger. In a podcast interview with XRP enthusiast Zach Rector, Riley laid out his rationale for why he believes XRP is on the cusp of explosive growth that could potentially catapult it ahead of Bitcoin itself in the crypto hierarchy.
The core of Riley’s thesis stems from the detailed analysis he conducted specifically on XRP over the past few weeks. His research led him to conclude that XRP is uniquely positioned to capitalize on several key advantages over other major blockchain networks like Ethereum and Bitcoin. For example, he highlighted the XRP Ledger’s superior speed, drastically lower costs, and overall technical reliability/functionality versus the congestion and sky-high fees frequently experienced on Ethereum.
Moreover, Riley remains confident the planned launch of an EVM side chain on the XRP Ledger later this year will trigger an influx of existing ERC20 token projects migrating away from Ethereum towards taking advantage of the XRP Ledger’s robust infrastructure. Pointing to the early example set by Casino Coin’s migration, he predicts “a lot more tokens will come over” as development teams realize the tangible benefits of building on and leveraging the scalable, efficient XRP network.
In terms of specific price predictions, Riley sees XRP reaching at least $22 per token, if not higher, at the peak of the next major crypto bull run – representing titanic growth of 3,510% from current levels around 60 cents. Furthermore, he believes XRP will continue trading solidly above $10 even throughout the subsequent bear market. If realized, this would vault XRP’s market capitalization above an astonishing $1 trillion, thoroughly cementing its status as the most valuable cryptocurrency.
While acknowledging his outlook should not constitute official financial advice, Riley contends that “realistically” XRP is gearing up to overtake the top spot from Bitcoin “during this bull run.” However, he takes care to clarify that this changing of the guard would symbolize XRP’s ascent rather than representing any kind of failure on Bitcoin’s part. Still, his stance shows great conviction in XRP capturing outsized returns in the years ahead.
