XRP Price Prediction: Analyst Foresees 45,982% Surge to $1,000, Citing 2018’s 68,990% Rally
In a recent analysis, a market analyst known as BarriC has suggested that XRP, the cryptocurrency behind the Ripple network, could potentially surge by 45,982% to reach $1,000. This prediction comes despite the asset’s current range-bound movements and the skepticism surrounding such ambitious price targets.
According to a report by The Crypto Basic, XRP has sustained its range-bound movements over the past three months, with price upswings to highs like $3 in March meeting intense resistance, while slumps to lows like $1.6 have triggered rebounds. Despite this extensive consolidation, some proponents remain confident that XRP still has the potential to reach ambitious price levels, with the $1,000 mark often featured in these discussions.
As noted by The Crypto Basic, XRP demonstrated one of the best performances by any altcoin during the 2017/2018 bull run, rallying from $0.006 to an all-time high of $3.8. This represents a massive 68,990% increase in less than nine months. BarriC argues that if XRP could achieve such a remarkable surge in the past, it can repeat this feat and reach $1,000.
At the time, most analysts believed such an uptrend was impossible for XRP, especially considering it started the bull run on a bearish note, dropping 42% from October 2016 to March 2017. Citing this historical precedent, BarriC argues that XRP can repeat this run, noting that people often insist something is impossible until it actually happens.
However, critics have argued that such price predictions are unfeasible, citing market cap constraints. At $1,000, XRP would have a fully diluted market cap of $99.98 trillion, over four times the current market cap of gold. This seems highly improbable. Finance expert Rajat Soni argued that those who eye even a $100 price for XRP have a “mental disability.”
Despite the skepticism, BarriC remains convinced that XRP to $1,000 will happen, albeit not soon. For context, at the current price of $2.17, XRP must surge by a massive 45,982% to reach this $1,000 mark. While this seems like an impossible situation, BarriC believes it will happen, just like it did in 2017/2018.
As The Crypto Basic reports, other analysts have also weighed in on XRP’s potential price movements. For instance, Matthew Brienen, the COO of CryptoGuard, suggested that XRP could reach $100 to $1,000 over the next ten years.
The Crypto Basic notes that it remains to be seen if XRP will indeed surge to $1,000 or if it will continue to consolidate at its current price levels. However, with analysts like BarriC and others championing ambitious price targets, it is clear that the XRP community remains optimistic about the asset’s potential.
In conclusion, while a 45,982% surge to $1,000 seems highly improbable, it is essential to consider XRP’s historical performance and the potential for unexpected price movements in the cryptocurrency market. As The Crypto Basic reports, only time will tell if XRP will reach this ambitious price target.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
