Despite concerns on XRP price performance this market cycle, this crypto expert elaborated on why he believes the crypto token still record significant gains. He even predicts that XRP could rise as high as up to $10.
Why XRP Price Could Rise to $10
Nick, the founder of Web3Alert, mentioned in an X (formerly Twitter) publish that its price range for XRP in this market cycle is between $5 and $10. According to him, this is possible considering that there are predictions that ETH will rise between $7,500 and $10,000 and Bitcoin will rise to between $100,000 and $150,000.
Nick noted that increasing the price of XRP to between $5 and $10 would put its market cap at $500 billion and 1 trillion, respectively. This puts the crypto token’s market cap in a similar category to Bitcoin and Ethereum, which could be valued at as much as $2.9 trillion and $1.2 trillion if their price predictions come to fruition fully.
In other words, Nick argues that XRP reaching these prices is not unlikely, as there is still plenty of room for growth for the two largest crypto tokens by market cap, Bitcoin and Ethereum. As the price of these two tokens continues to rise, he expects XRP to follow suit. Interestingly, he opined that his XRP forecast is “conservative,” suggesting that XRP could rise much higher.
Following Nick’s statement, another commented that comparing XRP to Bitcoin and Ethereum seemed out of place, as BTC and ETH’s price prediction is only 2x, unlike XRP, which will need to see a 10x price to reach these targets. user to respond This simply shows that XRP is undervalued and presents a huge ROI opportunity this cycle.
Belief in XRP’s potential
Nick joins a list of crypto analysts who have expressed optimism about XRP’s potential this market cycle. despite its low performance to start this bull run. Cryptography Expert Zach Rector also recently shared his belief and gave reasons why XRP will still perform well in this bull market.
Although he did not give any price predictions, he did allude to XRP Fundamentals as one of the reasons he holds this belief. Meanwhile, technical analysts like Egrag Crypto have also made bullish price predictions for XRP this market cycle. Egrag got to the point suggesting that the price of XRP could rise to as high as $27 at the peak of this bull run.
At the time of writing, the price of XRP is trading around $0.58, down more than 3% in the last 24 hours, according to data from CoinMarketCap.
Token price retests $0.6 | Source: XRPUSDT on Tradingview.com
Featured image from Coiningape, chart from Tradingview.com
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