Veteran Investor Sees $100+ XRP Prices as Inevitable Due to Supply and Demand

A veteran investor is predicting that XRP will reach prices above $100. He based his claim on supply figures, which show that over the past 206 days, 95,506 XRP have been burned from circulation. This averages out to around 463 XRP per day.

The investor argued that a higher price for XRP is necessary for it to handle larger transaction volumes. At current prices, XRP can process $100 billion in on-chain transactions, but as the value increases, so will the number of tokens burned.

He also pointed out that XRP's Relative Strength Index (RSI) reading is neutral, while other major assets are overbought. This suggests that XRP has not yet reached its peak price.