XRP – the native token of Ripple – is currently the fifth largest cryptocurrency by market capitalization, whereas the coin holders are almost 5 million. As such, it is no surprise that price predictions related to the asset are a highly intriguing topic.
And while some analysts have laid out somewhat realistic forecasts, others have gone wild, envisioning that XRP could blast to as high as $500.
How High Can XRP Go?
One person who gave a relatively shocking price prediction for XRP is the pseudonymous crypto trader and analyst Oaksacorn. They published a graphic, according to which Ripple’s native token could spike to $43, while Bitcoin (BTC) could skyrocket to $250K and even $1.25 million.
The analysts based their research on drawing parallels between the current condition of the cryptocurrency market and the 2015-2017 cycle:
“BTC mimicking 2015 cycle – likely given structure so far. This puts BTC at 215K in September of 2024 and could bring an XRP price of $43.”
While the aforementioned forecast sounds rather preposterous, the next one we are about to mention could be described as simply impossible. It came from the business analyst Shannon Thorp, who believes XRP could explode to $500 in the next four years.
It is worth noting that the asset’s market capitalization should surge to approximately $260 trillion for that to happen. In comparison, the entire market cap of the cryptocurrency sector stood at $3 trillion in 2021, when BTC reached an all-time high of almost $70,000.
Those curious to find out what the AI-powered language model ChatGPT has to say on XRP’s price performance during the next bull run can take a look at our video.
The company that stands behind XRP – Ripple – is also regularly in the spotlight and has been the subject of various rumors.
The firm will throw a massive party tomorrow (September 29) in New York City to celebrate the partial win against America’s securities regulator. Some X (Twitter) users took the opportunity to present numerous theories about what could happen during the event.
According to the most popular speculations, Ripple might reveal plans to file for an initial public offering (IPO) or disclose an agreement with the SEC.
It is safe to assume that the potential IPO move could trigger a price rally for XRP. One analyst who shares that opinion is the blockchain researcher using the X handle – Collin Brown. They suggested the token could jump to $10 shortly after “the big day.”
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