Analyst Says XRP Could Hit $5 to $10 this Bull Cycle. Here’s why

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.

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.

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.

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.

Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.