XRP’s future remains a topic of debate within the cryptocurrency community. Considering the digital asset’s well-documented struggles due to the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC), some analysts express skepticism of a bright future, while others, like Nick (@NCashOfficial), the founder of Web3Alert, present a bullish case for XRP, outlining reasons why a significant price increase is achievable.
Nick’s Bullish Outlook
In a recent post, Nick outlined his target range for XRP during the current bull cycle, anticipating the token reaching unprecedented price levels between $5 and $10. The digital asset is trading at $0.5809, down 5.18% over the last 24 hours. Nick’s targets are far beyond the digital asset’s current price and also significantly higher than XRP’s all-time high of $3.84.
Read Also: Is XRP Dead Indeed? Community Debates XRP Prospects Amid Rising FUD
Nick acknowledges the skepticism surrounding XRP, particularly given its lethargic price movement compared to other cryptocurrencies that have experienced significant gains in recent months. However, he attempts to justify his bullish outlook by drawing comparisons with established players like Bitcoin and Ethereum.
My range on $XRP is $5-$10 this cycle.
I see so many people saying that it won't or it even can't happen.
These are the same people cheering for $ETH to hit $7,500 – $10,000 and also $BTC to hit $100,000-$150,000
Think about this logically for a second. Even going off of the…
— Nick | Crypto Crusader (@NCashOfficial) March 17, 2024
Drawing Parallels with Market Leaders
Nick argues that those doubting XRP’s potential for substantial growth likely hold similar beliefs about Bitcoin and Ethereum. Bitcoin recently hit a new all-time high, and although a correction followed, many believe a bigger rally is coming. Nick highlights predictions suggesting Bitcoin could reach values between $100,000 and $150,000, while Ethereum is anticipated to surge to $7,500 or even $10,000.
If these predictions materialize, Bitcoin’s market cap will expand significantly to hit $3 trillion. Similarly, Ethereum’s market cap could approach $1.2 trillion if its price reaches $10,000.
Nick contends that for XRP to achieve a valuation of $550 billion, which translates to a price range of $5 to $10, its market capitalization would need to be approximately $1 trillion. Compared to the projected market caps of Bitcoin and Ethereum, Nick argues that XRP’s targets are attainable.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Bank of America to Leverage Ripple ODL Services Once XRP Lawsuit Ends, Garlinghouse Affirms
XRP’s Future
A prominent analyst recently predicted that XRP could soon surpass $14, suggesting Nick could be proven right soon. Nick wrote, “In fact, I think it’s CONSERVATIVE,” referring to the digital token reaching $5 to $10 in this bull cycle.
Another prominent analyst has set a timeline for XRP to reach $10, and some analysts believe XRP can recreate its 2017 rally where it outperformed Bitcoin. While the future price of XRP remains uncertain, the arguments presented by Nick and other analysts offer a compelling case for its potential to experience significant growth.
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