Dave W Says XRP Could See Huge Gains, But $1,000 Price Calls Are “Absurd”

Dave Weisberger, former chairman of CoinRoutes, has shared his insights on the ongoing debate between Bitcoin (BTC) and XRP.

Weisberger acknowledged that XRP could grow in the future but highlighted key differences between it and Bitcoin. Specifically, he said Bitcoin holds a unique place in the digital economy and could still increase in value by up to 10 times, while XRP’s usefulness may not be enough to push its price to extremely high levels.

He also pointed to Bitcoin’s growing strength, noting the rise in exahashes as proof of the network’s expansion. Despite short-term price fluctuations, Weisberger believes Bitcoin still has huge upside potential. If its network keeps growing, he believes Bitcoin could eventually reach a point where its market cap surpasses gold’s.

The XRP Valuation Dilemma

Meanwhile, for XRP, Weisberger acknowledges its utility in the financial world, particularly with Ripple’s strategic focus on prime brokerage. He suggests that XRP could see substantial growth from its current levels.

However, he cautions against unrealistic price predictions, particularly the notion that XRP could ever approach Bitcoin’s price point.

“There are literally 5,000 times more XRP tokens than Bitcoin,” Weisberger pointed out. “If you’re talking about XRP approaching Bitcoin, then $21 is what you’re expecting, not $1,000. People calling for a $1,000 XRP are clearly innumerate or just don’t understand math.”

For context, a $21 price gives XRP a $1.2 trillion valuation, while a $1,000 price implies a $60 trillion valuation. To Weisberger, a $60 trillion outlook is unrealistic for a coin whose future value lies more in its utility within Ripple’s ecosystem.

“Ripple Will Switch Networks if XRP Spikes Too Much”

He argues that Ripple’s business model involves leveraging XRP on its balance sheet for prime brokerage and hinges on the token’s ability to remain stable and operational, rather than experiencing sudden spikes in value.

“If the price of XRP goes up too much, they’ll be forced to switch networks,” Weisberger said. “They won’t subsidize it for long, even though it would make their balance sheet look more impressive in the short term.”

XRP Is a Profitable Investment

Ultimately, Weisberger remains bullish on Bitcoin, expecting major gains if it continues its current growth path. Meanwhile, he views XRP as a profitable investment but with serious caveats.

He believes there’s a real use case for XRP within Ripple’s business model, but said its price is not driven by the same factors that fuel Bitcoin’s growth.

Industry Reaction

Responding to Weisberger’s analysis, Jake Claver, CEO of Digital Ascension Group, said he agreed with nearly all of Weisberger’s points except for the math behind XRP reaching a four- or five-digit price. Notably, Claver is among those who believe XRP could reach $10,000 price.

Meanwhile, in response to him, Weisberger insists that the math doesn’t add up because a four-digit XRP price would imply a total valuation exceeding the entire market capitalization of the global financial system, which he called unrealistic for an asset supporting a commoditized network.