Eric Finnerud, the founder and CEO of Sound Alive Records, also known as E. Smitty, has stated that he believes the price of XRP will “reach 5 digits and beyond,” implying that the cryptocurrency could explode in the future.
E. Smitty’s prediction would result in a massive increase in the value of XRP, which is now trading at $0.45 per token after losing nearly 7% of its value in the previous seven days.
Several users responded to the music producer, pointing out that the figure appears unrealistic, as for $XRP to reach five digits per token, it would have a market cap greater than that of the entire cryptocurrency space at the time, implying that it would not only rise above the flagship cryptocurrency Bitcoin, but would vastly surpass it.
Some people commented jokingly, claiming that the forecast is a possibility within the next 1,000 years, while others speculated that if $XRP tokens are massively burned, each token may trade at five digits.
Earlier this month, E. Smitty told his over 170,000 Twitter followers that he utilizes $XRP as a currency every day to pay musicians royalties in the token, while also accepting XRP payments for mixing, mastering, producing, and marketing.
The music producer is a well-known $XRP bull who has been backing the cryptocurrency and others in recent months. E. Smitty has given out free tokens to his social media followers on several occasions.
Notably, other analysts have been bullish about Bitcoin in recent weeks, albeit none have made such outrageous price projections.