EllioTrades warns XRP could lose its top-10 position if the XRP Ledger fails to compete in tokenization.
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Key Takeaways
EllioTrades warns XRP could lose its top-10 position if competing networks capture the tokenization market.
He argues Ripple’s banking relationships must translate into meaningful activity and demand for XRP.
Despite his concerns, he sees potential for double-digit prices if the network becomes a leader in tokenization.
XRP could fall out of the world’s top 10 cryptocurrencies if rival networks deliver the financial services its holders have spent years anticipating, according to crypto commentator EllioTrades.
His warning focuses on an ongoing worry debated amongst the community, Ripple can expand its business without necessarily creating substantial demand for XRP.
However, the famed analyst has not ruled out a sharp rally, arguing that becoming a major player in tokenized financial assets could still provide XRP with a path to double-digit prices.
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Why EllioTrades Thinks XRP Could Lose Its Top-10 Position
In a recent video, EllioTrades argues that XRP’s longstanding reputation as the “banker coin” is being challenged by networks building markets for tokenized bonds, stocks, and more.
His warning is that investors could correctly anticipate blockchain adoption while backing an asset that captures too little of the growth.
“We could all be right about the direction of where crypto is heading and be wrong about which asset will benefit most.”
EllioTrades points to Ethereum, So, and other networks as competitors that attract tokenized assets and trading activity.
Unless the XRP Ledger strengthens its position, he warns, XRP could be overtaken.
He describes the risk of XRP being “slowly replaced until it falls out of the top 10 eventually, and potentially out of the top 20 and beyond.”
The warning is conditional. He does not provide a dated forecast or a specific price at which XRP would lose its ranking.
Stablecoins Challenge XRP’s Payments Pitch
EllioTrades identifies stablecoins as another competitive threat. The argument is that businesses moving money internationally may prefer a token designed to maintain a fixed value over an asset whose market price fluctuates.
He also questions how much Ripple’s banking partnerships benefit XRP investors when customers use the company’s technology without using the token.
“While that is good for Ripple as a company as it’s using some kind of payment technology to facilitate these transfers, it doesn’t really help the XRP holders.”
Ripple CEO Brad Garlinghouse has acknowledged that stablecoins may actually be the better option for certain payment flows rather than XRP.
To many bulls’ dismay, it highlighted how growth in Ripple’s payments business does not mean every customer must adopt XRP.
Tokenization Needs More Than Big Numbers
EllioTrades’ central argument concerns the difference between recording assets on a blockchain and building an active market around them.
For holders, he argues, the important measures are whether investors actually hold and trade those assets — and whether the network gains ground against competitors.
“It must have real holders. It must have a business where it trades these assets.”
His criticism raises the heavily debated question of how much demand for XRP does activity on the XRP Ledger actually generate?
As CCN recently reported, Ripple announced five institutional developments between Oct. 6 and Oct. 15, spanning brokerage, custody, trading, and settlement.
However, despite the partnerships, XRP fell roughly 13% between Oct. 6.
Could XRP Still Surge Into Double Digits?
Despite his bearish warning, EllioTrades outlined a route to a much stronger XRP price.
If Ripple becomes a leader in tokenization, he suggests XRP could reach double digits, though he did not specify a timeline.
“Maybe not $589 … double digits. That would be my target if they do this.”
He identifies three developments that could strengthen the investment case:
Greater tokenization market share.
A stronger developer ecosystem.
Major institutional adoption.
EllioTrades named BlackRock and Franklin Templeton as examples of institutions whose involvement could change his outlook.
The $589 Dream Hits Reality
EllioTrades revisits the $589 target as an example of the extraordinary expectations surrounding the token’s early banking narrative.
“You can see price targets of $589, which became a meme as Ripple took off.”
He describes supporters putting forward “astronomical price targets,“ but quickly assured that he was not saying “all XRP army members are delusional.”
His own bullish case depends on the XRPL becoming a major player in tokenized financial assets.
“If Ripple becomes a leader here, they could truly deliver to holders what they’ve been hoping for and dreaming for.”
However, he argues that adoption must extend beyond headline asset values.
“It must have real holders. It must have a business where it trades these assets.”
A move to $589 would require roughly 43,855% growth from $1.34.
Using around 63.1 billion in circulation, that would imply a market capitalization of $37.2 trillion, assuming supply remained unchanged.
That would exceed gold’s estimated $28.7 trillion valuation, amount to roughly 22 times Bitcoin’s market cap, and surpass seven times Nvidia’s value.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
