Outside Source
TL;DR
- XRP recovered to $2.18 after dropping below $2 last week, with analysts predicting a potential rally.
- While some foresee the asset reaching $100 in the future, achieving this would require an unrealistic market cap exceeding $5 trillion.
XRP Rally Incoming?
The cryptocurrency market correction, which started last week, negatively affected numerous leading digital assets. Ripple’s XRP is one of those, with its price plunging from $2.70 on December 17 to under $2 a few days later. Recently, the bulls recovered some lost ground, pushing the asset’s valuation to the current $2.18.
Despite the fluctuations, multiple analysts on crypto X continue to predict new peaks for XRP in the short term. Mikybull Crypto, for instance, claimed that XRP’s chart “is looking spicy on its current retest,” expecting a rise to a new all-time high of $4.
For their part, EGRAG CRYPTO presented two possible scenarios. The analyst assumed XRP could head toward lower targets if it tumbled below $2. On the other hand, breaking above $2.65 could mean that “fireworks will ignite.”
The X user with moniker Coach, JV also chipped in. Several days ago, they claimed that XRP would be one of those cryptocurrencies that investors will regret not buying now:
“XRP will be one of these assets where people will say, “I could have bought XRP at $2, $5, or $7, and will FOMO in at $100.” The beauty in this. Everyone will win in the long run! It’s the short-term mindset that destroys portfolios!”
It is important to note that reaching a whopping target of $100 will require XRP’s market cap to skyrocket above $5 trillion. As of this writing, the entire capitalization of the crypto sector is less than $3.5 trillion, making the forecast quite unplausible (to say the least).
Previous Predictions
Other industry participants who weighed in recently include the X users Crypto Bitlord and CrediBULL Crypto. The former believes “the final pump for 2024 is loading,” speculating that the price might rally to as high as $12 next month.
CrediBULL Crypto told his 450,000 followers on X that “the XRP/BTC chart looks absolutely fantastic” and “the most bullish-looking chart in the entire space.” As such, the analyst said they will look to open a long position in the coming days.
This article first appeared at CryptoPotato
