A recent debate has emerged in the cryptocurrency community regarding XRP’s price trajectory.
An experienced trader Maximus Prime (@RalstonMax) defended his bullish outlook against skeptics. The discussion centers around the feasibility of XRP reaching significant price milestones of $7 and $35.
Despite current skepticism, the crypto expert maintains that substantial price appreciation is in the cards for XRP. One user criticized Maximus for flipping his stance, implying that the digital asset cannot reach the $7 and $30 to $35 targets Maximus predicted in July 2024.
Projections like these often spark a wide range of reactions, and in this case, Maximus opted to defend his stance and reinforce his belief in XRP’s potential.
He clarified his prediction, noting that the $30 to $35 range is not a ridiculous target. According to Maximus, $7 is the smaller measured move and the start of the rally which will eventually lead to the $30 to $35 range which is the larger measured move.
He also noted that he has a long-term XRP investment, but the digital asset would need to first break out before a major move occurs. Another analyst recently set the $36 target for XRP, further reinforcing Maximus’ prediction of a massive surge.
The Market Cap Debate
Most discussions surrounding these price targets have focused heavily on market capitalization comparisons with other leading cryptocurrencies. At the time of press, Bitcoin maintains a market cap of $1.34 trillion and Ethereum holds approximately $299 billion.
Critics argue that XRP reaching such valuations would require unprecedented growth, surpassing current market leaders. However, proponents of higher price targets present historical context to support their perspective.
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Supporting arguments for its potential value appreciation often reference Ethereum’s market performance. Analysts note that many market participants consider a $7,500-$10,000 price point achievable for Ethereum, which would result in a market capitalization exceeding $1.2 trillion.
Proponents of higher prices emphasize historical precedent, noting that the cryptocurrency has previously achieved market capitalizations comparable to Ethereum’s.
BitBoy’s recent analysis delved into this, noting that the digital asset spent some time as the second-largest digital asset before the suppression caused by the lawsuit. He believes the digital asset can flip Ethereum in the current cycle, and based on precedent, XRP has the potential to achieve this goal.
At press time, XRP traded at $0.5147, and a surge to $35 represents a 6,700% increase. The digital asset has also climbed significantly higher in the past, and many signs point to it repeating prior surges and easily surpassing this target.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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