Xena (@XenaXRP), a prominent Bitcoin investor, has recently expressed bullish sentiment towards XRP. She believes the digital asset could potentially experience a substantial price increase, reaching $100 or even $500, according to Xena.
This prediction is based on the performance of other cryptocurrencies, such as Solana (SOL), Quant (QNT), and Ethereum (ETH), which have demonstrated significant price appreciation in the past. Xena argues that XRP possesses the potential to follow a similar trajectory.
However, it is essential to consider the specific circumstances of each cryptocurrency. Both SOL and QNT have considerably lower circulating supplies compared to XRP. Ethereum, while having a larger circulating supply, has established itself as a leading platform for decentralized applications (DApps). While similar blockchains like Stellar have launched smart contracts, the XRP Ledger (XRPL) has yet to fully support smart contracts.
Another key factor influencing XRP’s potential price is its market capitalization. Given its vast circulating supply, reaching $500 would yield a market capitalization exceeding $49 trillion, a figure significantly larger than the global cryptocurrency market. Many experts have highlighted this as a barrier to XRP’s growth, limiting their predictions of how high it can climb.
Despite these challenges, Xena maintains an optimistic outlook on XRP. She draws parallels between the current XRP market and the early stages of Bitcoin and Ethereum, suggesting that investors who missed out on those opportunities may find a similar chance with XRP.
XRP is currently trading at $0.5717, and many other analysts share Xena’s belief that XRP won’t stay low for long. One prominent analyst recently predicted that the current level is the final buying opportunity. Xena highlights this as good news, stating that users can acquire plenty of tokens for just cents.
She also notes this as a reason for XRP’s popularity. In her words, “Maybe that’s why everyone focuses on XRP, and it gets so much hate and so much love.”
The cryptocurrency community’s polarized views on XRP are evident, with both ardent supporters and critics. However, the supporters are more vocal, and many analysts share the bullish sentiment around XRP.
Ripple’s CEO also believes XRP can be the next Bitcoin, and capturing a large volume of global cross-border payments can help XRP reach this goal and the bullish targets analysts have set.
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.
Follow us on Twitter, Facebook, Telegram, and Google News
Shiba Inu is experiencing a surge in market activity, capturing attention with approximately 17 trillion…
Crypto chartist CryptoAmsterdam recently advised Shiba Inu (SHIB) investors to view every price dip as…
David Schwartz, Ripple’s Chief Technology Officer, recently highlighted significant distinctions between contracts and “reasonable reliance,”…
Bitcoin's recent all-time highs have brought the cryptocurrency market to a crucial turning point that…
Leading figures in the cryptocurrency world are backing a new token that costs just four…
Initial Coin Offerings (ICOs) is a way to raise funds in the blockchain and cryptocurrency…