BlockFi's final opponent withdraws, and the $13 million settlement is close to approval.

A top XRP community voice has debunked the idea that XRP could realistically reach a target of $1,000 per token.  Rosa, a member of the XRP community, recently took to X to argue that the $1,000 price prediction for the token is unrealistic. According to Rosa, it is mathematically impossible for XRP to rally to that ambitious target.  Why is $1,000 Prediction Unrealistic?  Given XRP’s supply of 100 billion tokens, Rosa emphasized that its market cap would explode to $100 trillion if the $1,000 price materializes. She noted that the projected $100 trillion market cap would be ten times larger than the current global GDP.  As of 2024, the World Bank estimates the global GDP at $111.33 trillion. This implies that XRP’s estimated valuation at $1,000 (equivalent to $100 trillion) would nearly equal the value of the entire world economy.  Meanwhile, Rosa stressed that the market demand for XRP is not sufficient to push the token’s price to $1,000. She argued that it could take several years for XRP to even reach $10, a far more modest target compared to the ambitious $1,000 projection. At $10, XRP will have a market cap of $1 trillion, which is less than Bitcoin’s valuation. As a result, she warned other XRP investors to be cautious of overly ambitious predictions. https://twitter.com/Rosa_e5/status/1956780999833948572 Community Pushes Back As expected, some community members pushed back on Rosa’s claim, arguing that market cap is not a strict barrier limiting how high an asset can rally. One community member, "FutureXRP," said XRP does not require $100 trillion in new money to reach the $100 trillion valuation.  The user also argued that while the market cap of oil is up to $300 trillion, that information is not documented because it is irrelevant since oil is treated as a commodity. Therefore, they urged Rosa and other community members to adopt a similar approach for crypto assets like XRP.  Responding, Rosa said that while market cap may not be a direct indicator for price, it does reflect an asset’s size and demand. She emphasized that XRP would require substantial demand to reach the $1,000 target.  XRP to $1,000 Prediction  The discussions surrounding the XRP $1,000 price projection have become a recurring theme in the XRP community, thanks to speculation that XRP would play a significant role in the global financial system.  Earlier this month, Black Swan Capitalist co-founder Versan Aljarrah set $1,000 as XRP’s bear target if the token is leveraged as a bridge asset for global financial infrastructure.  Popular community member Armando Pantoja believes there would be a full-blown FOMO should XRP reach the $1,000 price. In his view, several investors would be struggling to own as little as 1 XRP in their portfolios.  Meanwhile, some commentators have offered a ten-year timeline for XRP to reach $1,000. As of today, XRP trades at $2.85 with a seven-day decline of 8.31%. From the current price, it must rise 34,987% to reach $1,000.

A routine contract rule adjustment by Binance accidentally exposed the most vulnerable pimple in the crypto market.

Popular Bitcoin maxi Davinci Jeremie has delivered a reality check to Shiba Inu supporters on SHIB reaching $1. Shiba Inu, like most cryptocurrencies, has received some audacious predictions in its lifetime. One projection that has elicited widespread debate is the possibility of the token reaching the $1 mark. This discussion regained momentum after a member of the Shiba Inu ecosystem team, Lucie, referenced an analysis from ChatGPT suggesting that the $1 forecast is within the realm of possibility. Per the AI model, the $1 prediction should not be dismissed as a joke but viewed as a challenge for the community. Interestingly, ChatGPT does not see the forecast as an impossible milestone. Instead, it believes that the possibility of the projection coming to reality depends on the alignment of several factors, including wider adoption and the momentum of a strong bull run. Other experts like Luis Delgado also suggested that people would focus on the $1 prediction once SHIB reaches one cent, or rises to the $0.01 target. "Shiba Inu Is Not Going to $1" Meanwhile, Jeremie also joined the discussion on whether $1 is a realistic target. Notably, the Bitcoin proponent emphatically stated that Shiba Inu is not going to $1. He considered the prediction unrealistic, citing the massive market cap Shiba Inu would attain should it reach such a price. Jeremie stated that reaching $1 would elevate SHIB's market cap to about $600 trillion, assuming SHIB's 589 trillion token supply remains untouched. He argued that the estimated $600 trillion valuation exceeds anything "in the history of mankind". For context, the total stock market is worth $128 trillion, while the entire valuation of the crypto market is around $3.83 trillion. Possible Way SHIB Could Reach $1 It bears mentioning that other analysts have previously shared the same sentiment, including TradeCityPro. Like Jeremie, TradeCityPro pointed out that Shiba Inu's valuation will surpass that of silver, gold, and even Bitcoin if SHIB soars to $1. Meanwhile, one way SHIB could hit a $1 price under a realistic market cap is if a substantial volume of its supply is burned. For instance, an earlier analysis by The Crypto Basic estimated that SHIB could hit the $1 price with a market cap of $500 billion if 99.91% of the supply is burned. However, burning over 99% of the supply may also not be a realistic expectation. In the meantime, Jeremie expects Shiba Inu to perform well in the future but not to the extreme levels that many retail investors envision, including the $1 projection. At the current price of $0.00001240, Shiba Inu must rise 8,064,416% to reach the $1 milestone.