Market Expert Says XRP Price Reaching $1,000 Is Inevitable, Here’s Why
28 Maio 2024 - 4:00PM
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Despite its unimpressive price action, crypto analysts have
maintained faith in the XRP price, offering bullish price
predictions for the crypto token. This time, crypto analyst BarriC
has predicted that XRP’s price reaching four figures will
undoubtedly happen. XRP Price Will Reach $1,000 At Some Point
BarriC explained in an X (formerly Twitter) post why he believes
XRP will eventually reach $1,000. He mentioned that no one could
have envisaged that Bitcoin would hit $73,000 when it was still
trading at $330 in 2016. He also made reference to other crypto
tokens like Ethereum, Litecoin, Solana, and Dogecoin, which were
trading really low at some point and went on to make significant
price gains. Related Reading: Dogecoin Poised For 700%
Explosion To $1.17 Amid Recovery In Major Metrics Therefore, he
believes a similar pattern could play out with XRP. He noted that
XRP was trading way lower than its current price level at some
point when it was $0.006 in 2017, and no one imagined it would
climb to an all-time high of $3.80. BarriC went on to claim that
those saying XRP will never move in price “clearly don’t understand
how crypto works.” The crypto analyst added that the “explosive
price action” for XRP will definitely come at some point, and what
is important is to have the “fortitude” to hold until that time
comes. He also suggested that there was no better time than now to
accumulate XRP, stating there is a benefit in accumulating when
people either don’t know enough about the crypto or outright hate
it. This isn’t the first time that the crypto analyst has
predicted that XRP will hit $1,000 at some point. Before now, he
mentioned that XRP would hit this price level in the next five to
ten years. He explained that this exponential price surge will
happen thanks to the amount of money expected to flow into the
crypto space. He also alluded to the Spot Bitcoin ETFs and
how they helped drive up Bitcoin’s price. He believes something
similar can happen for XRP when institutional demand comes for the
crypto token through an XRP ETF. XRP Can Only Hit Three
Figures At Most XRP YouTuber Moon Lambo has previously suggested
that XRP’s price cannot go above three figures. He noted that there
isn’t enough liquidity in the world to drive XRP’s price to such
heights. He believes that mainstream adoption of XRP and liquidity
flow will only cause XRP to rise to three digits, and it will still
take “many market cycles” for XRP to even climb to such a price
level. Related Reading: Kickstarting The Bitcoin Bull Run: Expert
Says $70,000 Is The Level To Beat XRP possibly hitting three digits
brings crypto analyst CryptoBull’s prediction into focus. The
analyst recently predicted that XRP can climb to $154, although he
didn’t state exactly when this will happen. Meanwhile, crypto
analyst JackTheRippler predicted that XRP would rise to $100 when
the legal battle between the Securities and Exchange Commission
(SEC) and Ripple ended. Featured image from Coinpedia chart
from Tradingview.com
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