XRP has been making headlines as its price continues to climb, supported by favorable market developments and investors’ optimism. At the time of press, XRP is trading at $2.44, representing a 31% increase over the past 24 hours.
Edoardo Farina, a prominent figure in the crypto community and CEO of Alpha Lions Academy, recently made a bold comparison between XRP and Bitcoin in its early days. According to Farina, buying XRP now is like buying Bitcoin when it was at $100.
His prediction implies that XRP has the potential for substantial growth, similar to Bitcoin’s meteoric rise to its recent all-time high of $99,655. Based on this assumption, XRP could theoretically increase by approximately 100,000%, reaching $1,892.
Is XRP About to Enter the Four-digit Price Range?
Farina’s statement has sparked significant debate within the cryptocurrency community. Skeptics have pointed out the substantial differences between Bitcoin and XRP, particularly in terms of market capitalization. One user noted, “Bitcoin below $100 wasn’t 100 billion in market cap.” Another stated, “XRP will not be Bitcoin.”
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Despite the criticism, many XRP supporters remain optimistic. Notably, other experts have compared an XRP purchase to Bitcoin’s early days when it was worth almost nothing and there are many reasons why these experts are bullish on the digital asset.
Gary Gensler, the current Chair of the U.S. Securities and Exchange Commission (SEC), has announced that he will step down on January 20, 2024. This would allow the new administration led by Donald Trump to appoint a crypto-friendly SEC Chair.
This would effectively end the legal battle between Ripple and the SEC and the many other lawsuits the SEC has filed against cryptocurrency companies.
Gensler’s announcement contributed to the recent price surge, as many investors anticipate regulatory clarity and potentially favorable rulings for Ripple. Additionally, the application for multiple XRP exchange-traded funds (ETFs) has fueled bullish sentiment further.
Other experts have predicted targets above $1,000 for XRP. The digital asset is currently in territory it has not reached in years, and if it can keep its current momentum into 2025, these targets could become more realistic.
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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